IMF expects Japan`s economy to contract 5.8% in 2009

WASHINGTON, March 19 Kyodo -
The International Monetary Fund on Thursday revised downward sharply its
outlook for Japan's real economic growth rate in 2009 to minus 5.8 percent from
minus 2.6 percent estimated in late January.
In an update to its World Economic Outlook, the Washington-based lender also
forecast economic growth of minus 0.2 percent for Japan in 2010, the third
consecutive annual contraction since 2008.
The IMF also revised downward its outlook for global economic growth in 2009 to
minus 0.5-1.0 percent from plus 0.5 percent estimated on Jan. 28.
The IMF now expects minus 2.6 percent growth in the United States, compared
with minus 1.6 percent estimated in January, and minus 3.2 percent for the
eurozone, compared with minus 2.0 percent.
The IMF is forecasting positive growth in the United States and the eurozone in
2010.
The IMF said industrialized countries will fall into a serious recession in
2009 and that the prospects for economic recovery before mid-2010 are fading.
==Kyodo