The International Monetary Fund on Tuesday confirmed its previous forecast. According to it, global GDP will grow to 3.2% already this year.
This was stated by IMF Chief Economist Pierre-Olivier Gorinchas on Tuesday during the presentation of the updated World Economic Outlook (WEO). The document states that “global growth will be in line with the April 2024 WEO forecast of 3.2 percent in 2024 and 3.3 percent in 2025.”
At the same time, it is noted that the growing risks of higher inflation could lead to a prolonged persistence of high interest rates. It also draws attention to the fact that different regions have different dynamics.
What will happen to the economies of countries
Compared to the April 2024 WEO, growth in many countries was unexpectedly positive in the first quarter, although there were negative aspects in Japan and the United States.
In particular, the United States saw a slowdown in consumption after a long period of rising economic performance. In Japan, the unexpected negative growth was due to temporary supply disruptions related to the shutdown of a major automobile plant in the first quarter.
