The International Monetary Fund raises its forecast for global economic growth in 2023
The International Monetary Fund raised its estimate for global growth in 2023 as it now expects global real GDP growth of 3.0% in 2023, up 0.2% from its April forecast but left its 2024 forecast unchanged at 3.0%.
The International Monetary Fund stated that the forces that impeded growth in 2022 are still present, citing inflation, which is still high, which has eroded the purchasing power of households, and high interest rates, which have led to an increase in the cost of borrowing and tightening access to credit as a result of banking pressures that appeared in March.
The International Monetary Fund expected global general inflation to decline to 6.8% in 2023 from 8.7% in 2022 and then drop to 5.2% in 2024, but core inflation will gradually decrease to 6.0% in 2023 from 6.5%. in 2022 and declining to 4.7% in 2024.
