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IMF: World economy slowest growth since financial crisis

The International Monetary Fund says the world economy this year will grow at its slowest pace since the global financial crisis.

IMF: World economy slowest growth since financial crisis. Credit: PA

It is because a big economic slowdown in China and other emerging countries is counterbalancing strengthening recovery in richer nations, the FT (£) reports.

This year will be the fifth year running that average growth in emerging economies has declined, the IMF predicted in its twice-yearly world economic outlook.


Business chief disagrees with May on EU movement

The Confederation of British Industry's director John Cridland has disagreed with Home Secretary Theresa May who has called for the reinstatement of the original free movement principles within the EU, saying people should only be allowed to move freely within the EU if they have a job waiting for them.

Theresa May has spoken out about a return to Credit: Stefan Rousseau/PA Wire/Press Association Images

The evidence shows that the vast majority of people coming from the EU to the UK come to work and benefit our economy. Our hospitals and care homes couldn't function without overseas workers... But the system must be about freedom to work, not for the minority who do not contribute, so the Government should continue to work with our European partners to make sure the rules are fit for purpose for everyone. We'd be concerned if EU workers had to be hired for a job before coming to the UK though, as this would cause issues for firms without the capacity to advertise and recruit across the whole of Europe.

– John Cridland, CBI Director General
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