WASHINGTON, April 11 (dpa): The worldwide economy is rebounding very slowly from high inflation and the effects of Russia's invasion of Ukraine, according to an International Monetary Fund (IMF) forecast released on Tuesday.
The IMF predicted that global economic growth will slow to 2.8% this year, compared to 3.4% growth in 2022.
"We are therefore entering a tricky phase during which economic growth remains lackluster by historical standards, financial risks have risen, yet inflation has not yet decisively turned the corner," IMF chief economist Pierre-Olivier Gourinchas wrote.
The forecast is a slightly more pessimistic view than the IMF took in January, when the group forecast growth of 2.9%.
But the IMF sees growth rebounding further in 2024, when the latest forecast predicts global gross domestic product (GDP) growth of 3%.
The latest forecast also takes a gloomier outlook on Germany's economy, predicting a slight recession during the current year with economic output falling by 0.1%. That, too, is a slight downgrade from the IMF's January forecast.
The IMF forecast predicts that the German economy with grow by 1.1% in 2024.
Several economic institutes in Germany have recently taken a more confident view toward German economic growth in 2023, with forecasts earlier this month predicting GDP to rise by 0.3%. - dpa
