The IMF cut its 2014 growth forecast for the eurozone yesterday warning that the recovery in the single currency bloc was “neither robust nor sufficiently strong”.
In an annual report on the eurozone, the International Monetary Fund said growth this year would reach 1.0 per cent instead of the 1.1pc earlier forecast. The estimate for 2015 remained at 1.5pc.
“We acknowledge there is recovery but a lot more needs to be done,” said Mahmood Pradhan, Deputy Director of the IMF’s European Department, in a conference call presenting the report.
