Business & Economy
IMF raises global economic growth outlook
The International Monetary Fund (IMF) raised its global economic growth forecast for 2023 and 2024 after China’s economy opened up and Beijing abandoned its zero-COVID policy.
The global economy’s projected growth rate was 2.9 for 2023, up from 2.7 in last October’s report.
The Fund also raised its global economic growth forecast in 2024 to 3.1%, from 3% estimated in the previous report.
While the Fund weighed the growth of developing countries’ and the United States’ economy and the decline in inflation, it suggested a negative outlook for the European economy, which was expected to shrink.