WASHINGTON (AP) — The International Monetary Fund foresees the global economy expanding less than it had previously forecast, slowed by weaker growth in the United States, Russia and developing economies.

The lending organization predicted Thursday that global growth will be 3.4 percent in 2014, below its April forecast of 3.7 percent. But the fund still expects the growth of the world’s economy to accelerate a bit to 4 percent in 2015.