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IMF Growth Forecasts Show Slightly Improved Optimism

ENERGY

The IMF’s latest World Economic Outlook Report projects global growth rates of 3% in 2023 & 2024, showing modestly higher growth forecasts compared to the previous April report.

  • Growth rates in the report remain well below the historical annual average of 3.8% recorded from 2000 to 2019, the report said.
  • While there are "undeniable" signs the global economy is recovering from the pandemic and the invasion of Ukraine, the challenges are still there, too, cautioned Pierre-Olivier Gourinchas, International Monetary Fund economic counsellor and research director.
  • High inflation, financial market responses to rising interest rates, and a sluggish recovery in China remain downside risks globally.

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