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Despite the slight improvement, the institution warns that the forecast for 2023-24 remains “well below the historical annual average (2000-19) of 3.8%”.
The International Monetary Fund (IMF) is slightly more optimistic about this year’s growth in the global economy and forecasts a rate of 3%, the same as it also estimates for 2024, according to the updated economic projections released this Tuesday.
In the report entitled “Short-term resilience” and “persistent challenges”, the Bretton Woods institution revises its forecast for this year by 0.2 percentage points (p.p.) compared to the April projections, with no change for 2024.
According to the IMF, advanced economies continue to influence the growth slowdown from 2022 to 2023, with weaker industrial production, as well as idiosyncratic factors, offset by stronger services activity.
Read more at: TSF
