IMF to Cut Euro-Area Growth Forecast Below 1.4%, De Tijd Says

The International Monetary Fund will pare its forecast for 2008 economic growth in the euro area to below 1.4 percent next month, De Tijd reported today, citing Luc Everaert, who heads the IMF's regional studies unit in Europe.

The new projection for economic growth in the 15 nations that share the euro currency will be ``slightly lower'' than the 1.4 percent the fund forecasts for economic growth in Belgium this year, the newspaper quoted Everaert as saying at a press conference in Brussels yesterday.

The IMF yesterday cut its forecast for economic growth in Belgium from an earlier prediction of 1.6 percent in January, citing a ``worsening'' international environment and ``less favorable'' financing conditions for businesses.

The fund, which on Jan. 29 projected euro-area growth of 1.6 percent this year, will publish its new growth forecast on April 9, according to a statement on its Web site.