IMF upgrades global growth outlook for 2024

IMF Chief Economist Pierre-Olivier Gourinchas

Pierre-Olivier Gourinchas

By Javaughn Keyes

The International Monetary Fund (IMF), says the global economy continues to display resilience, with global growth holding steady and inflation declining.

IMF Chief Economist Pierre-Olivier Gourinchas says, coming out of its latest World Economic outlook, there was an upgrade to the growth expectations for 2024. 

“Global growth was 3.2% in 2023 and is expected to remain at that level, both in 2024 and 2025. This represents a 0.3 percentage point upgrade from our October projections for 2024, with stronger activity than expected in the US, China and other large emerging markets, but weaker activity in the Euro area,” he reported. 

The IMF chief economist said the inflation trends globally are encouraging.

“Median inflation will decline from 4% at the end of last year, to 2.8% by the end of this year, and 2.4% at the end of 2025. Most indicators continue to point to a soft landing,” said Mr. Gourinchas.

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