The Bank of Finland has downgraded its forecast for global economic growth in 2014 by 0.2 percentage points to 3.5 per cent. Although economic growth in the United States and developing economies is expected to continue at its current rate, the escalation of the conflict in Ukraine may have a negative short-term impact on economic growth, the central bank views.
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Bank of Finland slashes world economy forecast
In the euro area, the ongoing attempts to reduce public debt through fiscal policy measures and structural reforms will curtail growth and employment.