• 27/02/2024 06:06

The IMF has improved its forecast for global economic growth

The International Monetary Fund raised its forecast for global economic growth in 2024 by 0.2 percentage points to 3.1%. In 2025, growth is expected to be 3.2%. This is stated in the January review of the World Economic Outlook.

 The IMF has improved its forecast for global economic growth

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The outlook is improved compared to October last year due to better-than-expected resilience in the US and some market economies, as well as financial support in China.

However, the forecast for 2024-2025 is below the historical average (2000-2019) of 3.8% due to increased rates by central banks to combat inflation, the end of fiscal support amid high debt.

< h3>Inflation

Global headline inflation is expected to fall to 5.8% in 2024 and 4.4% in 2025. At the same time, the forecast for 2025 will be revised downward.

Oil prices

The IMF expects average oil prices to fall by 2.3% in 2024 compared to the forecast in October by a fall of 0.7% and said that prices would fall by 4.8% in 2025.

The IMF also added that new jumps in the cost of commodities due to geopolitical turmoil, in particular attacks on shipping in the Red Sea, may prolong tight monetary conditions.

The IMF has improved its forecast for global economic growth

minfin.com.ua

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