IMF: Global economic growth to reach 3.1% in 2024 & 3.2% in 2025
Time:Tue, 06 Feb 2024 09:06:41 +0800
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The International Monetary Fund (IMF) predicted in the latest World Economic Outlook that global economic growth will reach 3.1% in 2024 and 3.2% in 2025, 0.2% higher than the forecast in October last year. The increase was mainly due to the greater-than-expected resilience of the US and several large emerging markets and developing economies, and fiscal support in China.
However, the growth forecast for 2024-2025 remained below the historical average of 3.8% during 2000-2019 because of governments’ restrictive monetary policy and reduced fiscal support.
The IMF thought that inflation fell faster than expected in most regions amid the alleviated supply-side problems and restrictive monetary policy. Global overall inflation is forecasted to drop to 5.8% in 2024 and to 4.4% in 2025.
