BRUSSELS - European Union finance ministers will warn their counterparts from the world's most industrialised nations they should get ready to face a potentially large global slowdown, an EU document seen by Reuters says.
Without explicitly mentioning the coronavirus, the EU will tell a Group of 20 meeting of finance ministers next week that the world should get ready for unexpected bad news. Earlier on Thursday, the European Commission, the EU executive arm, said the coronavirus epidemic represented a key downside risk for economic growth, although its impact was difficult to gauge at the moment.
The International Monetary Fund forecast in early January that world output would rise 3.3 per cent this year, up from 2.9 per cent in 2019 but down from its previous estimate of a 3.5 per cent expansion.
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