IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
The International Monetary Fund made a cautious improvement to its global growth outlook today (January 21), suggesting the world may be nearing a “turning point”, even as major risks remain.
The fund upped its 2023 global growth forecast by 0.2 percentage points relative to the October projection. It now expects the global economy to expand by 2.9% this year, down from an estimated 3.4% in 2022.
“Growth will remain weak by historical standards,” IMF chief economist Pierre-Olivier Gourinchas
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