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IMF cuts forecasts for US economic growth

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The International Monetary Fund (IMF) has cuts its growth forecasts for the US economy due to uncertainty about White House policies. It now expects growth of 2.1% in 2017 and 2018, against earlier estimates of 2.3% in 2017 and 2.5% in 2018.

The forecast is also below the 3% rate targeted by the White House.

Proposals such as cuts to spending on programmes that benefit low and middle income households could lead to even slower growth, the IMF warned. “The consultation revealed differences on a range of policies and left open questions as to whether the administration’s proposed policy strategies are best suited to achieve their intended purpose,” the IMF said.

The US is enjoying its third longest economic expansion since 1850.

But the country is having trouble adjusting to the challenges produced by technology and demographic changes, the IMF said.

 

Source: BBCB

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