IMF has revised down its global growth forecast for 2023 slightly, but expects major economic regions to avoid recession. The institution now expects global growth of 2.8% in 2023, slightly down from its previous estimate in January: -0.1 percentage point.
For 2024, the IMF expectsglobal growth of 3%, which should also be the average expected over the next five years. "We are still facing an economy in recovery from the shocks of the pandemic and the war in Ukraine," says IMF chief economist Pierre-Olivier Gourinchas.