The International Monetary Fund has improved its forecast for global GDP growth in 2023 to 2.9 percent, 0.2 percentage points higher than expected in October, IMF's report on the outlook for the global economy noted.
Its growth forecast for the next year, 2024, the organization downgraded by 0.1 percentage points to 3.1 percent. Both figures are significantly lower than the average for 2000-2019 (3.8 percent).
The IMF notes that the dynamics of the economic situation in many countries have brought positive surprises and demonstrated unexpectedly high sustainability.
For example, China's GDP is expected to grow by 5.2 percent in 2023 and by 4.5 percent a year later. Not least, analysts attribute China's high growth rate to Beijing's rejection of its zero tolerance policy for COVID-19.
According to the IMF forecast, the Indian economy will grow by 6.1% this year and by 6.8% next year. In the U.S., these figures are projected to be 1.4 percent and 1 percent, respectively. For Russia, the forecast has been significantly improved from a decline of 2.3% to growth of 0.3% in 2023, and the economy is expected to grow by 2.1% in 2024.