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The International Monetary Fund has lowered its economic growth forecast for Europe for 2018 and 2019.
In a report released Thursday, the IMF forecast 2.3% growth in 2018 for the region, up from 2.8% last year and a 1.9% drop in growth in 2019.
In May, the bank was expecting growth of 2.6% in 2018 and 2.3% in 2019. It warned against short-term risks, mainly related to "growing trade tensions" . "In the medium term, growth may slow because of delays in implementing fiscal adjustment and structural reforms," he said.
"Domestic demand, supported by rising employment and wages, has been a powerful driver of growth in European economies," the IMF said in a statement.
The IMF warned that Britain would leave the EU without reaching an agreement, pointing out that this could lead to higher trade barriers and non-trade barriers including import licenses and trade rules. 39 and could affect growth.
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