Global growth will be weak in 2023 before rebounding next year: IMF

PNP DeskJanuary 31, 2023September 9, 202404 mins

The IMF estimates growth at 2.9 per cent this year, falling from 3.4 per cent in 2022 and reaching 3.1 per cent in 2024. This represents a slight adjustment, 0.2 percentage points, from its World Economic Outlook (WEO) forecast in October. Possible ‘turning point’ “Growth will remain weak by historical standards, as the fight against…

Global growth forecast to slow to 1.9% in 2023, warn UN economists

PNP DeskJanuary 25, 2023September 9, 202408 mins

This will be one of the lowest growth rates in recent decades, apart from during the 2007-8 financial crisis and the height of the COVID-19 pandemic. “In most countries we expect that private consumption and investment will weaken due to inflation and higher interest rates”, said Ingo Pitterle, Senior Economist at the UN Department of…