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globalnews.caThe International Monetary Fund cut its 2026 global growth projection to 3 percent from the 3.1 percent April estimate. The revision reflects higher energy prices after Iran closed the Strait of Hormuz in February. Growth is projected to rise to 3.4 percent in 2027.
BloombergThe World Bank reduced its outlook for worldwide economic expansion this year, citing the effects of conflict in the Middle East on trade and prices.