IMF raises forecast for eurozone

The International Monetary Fund (IMF) raised its growth forecast for euro-zone countries as a faster- than-expected global economic recovery outweighs lagging consumer demand in European countries.

The IMF said it expects the region’s economy to expand 2% this year, revised upwards from a prediction of 1.7% growth in April.

Growth in 2004 will reach 2.25%, the fund said.