The IMF have depreciated the estimate related to the U.S. economic growth this year from 2% to 1.7%. As far as the world economy is concerned, the growth estimate was downsized from 3.5% to 3.4%. For the Euro zone, the IMF maintained the forecast issued in January related to a contraction of 0.2%, according to Bloomberg.
According to the IMF, the fiscal austerity measures entered into force in March in the United States will temporarily limit consumption rates.
In the Euro zone, the uncertainties caused by the political stalemate in Italy add up to the European leaders difficulties in fighting the debt crisis, the Fund says.
The road to recovery in the advanced economies remains difficult. The weak trend of the economy in late last year and early in 2013 shows major obstacles still persist" the IMF document states.
The report states that the two biggest threats to the global economy - the Euro zone breakup and a major reduction in the U.S. spending rates - have been "successfully defused" over the past six months.