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IMF lowers global growth forecasts predictions amid trade, Brexit uncertainties

The IMF said downside risks had intensified and it now expected global economic growth of 3.2% in 2019 and 3.5% in 2020, a drop of 0.1 percentage point for both years from its April forecast.A rate of 3.3% or lower would be the weakest since 2009. 

The IMF also slashed expectations for growth in the global volume of trade in goods and services, reducing its estimate by 0.9 point to 2.5% in 2019.

The IMF also added that irrespective of global slowdown, India will still be the fastest growing major economy of the world and much ahead of China.

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