Global GDP to grow by 3% in 2023- IMF

Posted on July 31, 2023   |  

(International Monetary Fund) IMF raised its global economic outlook for 2023, and the GDP will grow by 3%, a slowdown from the 3.5% growth of 2022.

Authorities' tight action to prevent unrest in US and Swiss banking reduced direct risks of disruption in the financial sector.

However, the IMF warned that possibilities for growth are weak compared with the 3.8% average during the 2 decades before the Covid-19 pandemic.

In 2023, the IMF projects that inflation will stall at 6.8%, compared with 7% predicted in April, up from 8.7% in 2022.

US economy is set to grow by 1.8% in 2023, a 0.2% point increase from April.