IMF raises 2023 forecast on Beijing reopening, strength in US, Europe

The IMF said global growth would still fall to 2.9% in 2023 from 3.4% in 2022, but its latest World Economic Outlook forecasts mark an improvement over an October prediction of 2.7% growth this year, with warnings that the world could easily tip into recession. — Reuters

WASHINGTON: The International Monetary Fund (IMF) yesterday raised its 2023 global growth outlook slightly due to “surprisingly resilient” demand in the United States and Europe, an easing of energy costs and the reopening of China’s economy after Beijing abandoned its strict Covid-19 restrictions.

The IMF said global growth would still fall to 2.9% in 2023 from 3.4% in 2022, but its latest World Economic Outlook forecasts mark an improvement over an October prediction of 2.7% growth this year, with warnings that the world could easily tip into recession.