IMF raises global growth forecasts and declines in inflation

Alanbat - Sarah Omat

‏ The International Monetary Fund (IMF) announced that its global economic growth forecast for the year had risen by 0.2%, and that global inflation had fallen by the same proportion.

According to the updated Global Economic Outlook report released on Tuesday by the Fund on its official website, the slowdown is concentrated in advanced economies, where growth will fall from 2.7 per cent in 2022 to 1.5 per cent this year and remain weak and only 1.4 per cent next year.

The Fund also predicted a sharp slowdown in growth in the eurozone, which remains unbalanced by last year's sharp rise in gas prices caused by the Ukrainian war.

 The Fund projected higher growth in emerging market and developing economies as growth accelerated year-on-year, from 3.1% in 2022 to 4.1% this year and next.