Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal News Radio's National Cyber Security Awareness Month Special Panel Discussion
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- Government Perspectives on Mobility and the Cloud
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
IMF sees modest 2013 improvement for world economy
Wednesday - 1/23/2013, 11:56am EST
By DESMOND BUTLER
WASHINGTON (AP) - The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.
The report Wednesday, an update of the fund's World Economic Outlook, largely tracked the initial estimate from October, revising global growth down slightly by one-tenth of a percentage point, to 3.5 percent. The world economy grew 3.2 percent in 2012, according to IMF estimates.
"Some cautious optimism may indeed be justified," said the IMF's chief economist, Olivier Blanchard. "But we should be under no illusions: there remain considerable challenges ahead."
The IMF downgraded its forecast for the 17-country eurozone, projecting a slight economic contraction for 2013. It said that despite positive policy steps to tackle the debt crisis in some eurozone countries, continued uncertainty about a resolution to the crisis is weighing down growth prospects.
The IMF warned that the eurozone "continues to pose a large downside risk to the global outlook."
The revised report was more optimistic about the U.S. economy, forecast to grow by 2 percent for 2013. But prospects could change depending on impending tax and spending decisions. The U.S. government faces a series of budget negotiations as it tries to navigate mandated spending cuts and a dispute between President Barack Obama and lawmakers over the country's borrowing authority.
The IMF warned that the U.S. should avoid sharp cuts in the short term, but improve its books over the medium term by cutting entitlements and passing tax changes.
The updated report projected that stimulus policies in Japan would pull that country out of a brief recession, but said Japan had to deal with its debt in the medium term. Growth in China is projected to be 8.2 percent in 2013 compared with 7.8 percent in 2012.
The IMF also noted that growth in developing economies could be hurt by the problems still facing the U.S., Europe and Japan.
Follow Desmond Butler on Twitter at http://twitter.com/desmondbutler
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)