IMF raises growth expectation for world economy

ISTANBUL

The International Monetary Fund (IMF) has raised its gross domestic product (GDP) growth forecast for the world economy from 2.8% to 3% for 2023, it revealed on Tuesday.

The fund has kept its forecast at 3% for 2024, the report, named World Economic Outlook, showed.

The IMF expected that the US economy will grow by 1.5% this year, up 0.2 percentage points (pp) from the previous expectation, while 1.4% in 2024.

Expectations for the euro area were at 1.8% (up 0.2 pp) and 1% (down 0.1 pp).

Among major eurozone economies, Germany is expected post a decline in the GDP growth, minus 0.3% in 2023.

The IMF's expectation for the emerging market and developing economies were 4% (up 0.1 pp) for 2023 and 4.1% (down 0.1 pp) for 2024.

The fund warned that despite positive forecasts, there are some downward risks, including inflation, increasing debt distress and underperforming recovery in China.

ISTANBUL

The International Monetary Fund (IMF) has raised its gross domestic product (GDP) growth forecast for the world economy from 2.8% to 3% for 2023, it revealed on Tuesday.

The fund has kept its forecast at 3% for 2024, the report, named World Economic Outlook, showed.

The IMF expected that the US economy will grow by 1.5% this year, up 0.2 percentage points (pp) from the previous expectation, while 1.4% in 2024.

Expectations for the euro area were at 1.8% (up 0.2 pp) and 1% (down 0.1 pp).

Among major eurozone economies, Germany is expected post a decline in the GDP growth, minus 0.3% in 2023.

The IMF's expectation for the emerging market and developing economies were 4% (up 0.1 pp) for 2023 and 4.1% (down 0.1 pp) for 2024.

The fund warned that despite positive forecasts, there are some downward risks, including inflation, increasing debt distress and underperforming recovery in China.