The International Monetary Fund raises its forecast for global economic growth in 2023

Washington, January 31 / The International Monetary Fund raised its forecast for global economic growth to 2.9% in 2023, compared to its previous forecast of 2.7% last October.
In the Global Economic Growth Outlook report, the IMF expected a slowdown in global economic growth this year before it rebounds next year, due to the effects of global inflation and geopolitical tensions.
The report suggested that the growth of the global economy will slow down from 3.4% in 2022 to 2.9% in 2023, with a return to recovery to 3.1% in 2024.
The report stated that the growth of the global economy proved resilient in the third quarter of last year, supported by strong labor markets, high household consumption and business investment, and better adaptation to the energy crisis in Europe.
The International Monetary Fund report estimated the growth of advanced economies at 1.2% in 2023 and 1.4% in 2024, while emerging and developing economies are expected to grow by 4% in 2023, rising to 4.2% in 2024.