IMF cuts eurozone full-year growth forecast to 1.1%

Paris: The International Monetary Fund on Tuesday cut its growth forecast for the eurozone to 1.1 percent this year due to the "negative impact" of the war in the Middle East.

The new target is down 0.2 percentage points from the IMF's previous forecast in January, with Germany now expected to see growth of 0.8 percent, France 0.9 percent, Spain 2.1 percent and Italy 0.5 percent.

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Outside the eurozone, Britain's economy is now expected to expand by 0.8 percent this year, a sharp reduction from the 1.3 percent growth the IMF forecast at the beginning of the year.