IMF raises its global growth forecasts by 3.1% for 2024

Shafaq News / The International Monetary Fund (IMF) raised its global growth forecasts for the current year on Tuesday, reassessing several countries' outlooks in this regard.

In its latest statements from the annual report on the world economy, the IMF pointed to the "resilience" of major advanced and emerging economies worldwide, according to Agence France-Presse.

The IMF stated that it expects growth of 3.1% this year, compared to a previously expected increase of 2.9% in a report published in October 2023, with significant reassessment for the United States, China, India, Russia, and Mexico.

Additionally, the IMF announced that it has lowered its inflation expectations for 2024 in the wealthiest countries due to the success of interest rate hike policies, however, it has raised its expectations for other economies.