The revised 2013 growth forecast of 0.3 percent, down from 0.6 percent only two months earlier, is a result of the persistent uncertainty stemming from the debt crisis in the 17 European Union countries that use the euro, the IMF said. This has led to a worse-than-expected first-quarter performance and hurt both export prospects and investment, it added.


If German growth slows down further this year as predicted by the IMF, it will make it more difficult for Europe as a whole to emerge from the present recession.

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