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The update of the World Economic Outlook report released by the International Monetary Fund (IMF) on January 30th shows that the global economy is expected to grow by 2.9 percent in 2023 and rise to 3.1 percent in 2024.
The update's forecast for 2023 is 0.2 percentage points higher than that in the IMF's World Economic Outlook report released in October 2022, but below the historical average of 3.8 percent from 2000 to 2019.
The report also raised China's economic growth forecast for 2023 from 4.4% to 5.2%. The report predicts that the US economy will grow by 1.4% in 2023.
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