The International Monetary Fund has decreased its global growth forecast for 2012 and 2013 today. The organization sees the world growth for 2012 as falling to 3.5% from 3.6, and the 2013 growth as going down to 3.9% from 4.1.
The IMF's revisions are no doubt tied to the economic slowdown in regions like China, and the financial crisis in the Eurozone. The Fund has said the global recovery continues but remains weak.
The fund also said it was a ""priority"" to solve the crisis in the Eurozone, but to also avoid the looming 2013 fiscal cliff in the United States. Unlike the majority of the world, the Middle East and African conitent's growth forecast have not been lowered with the Middle East's 2012 forecast being raised.