IMF: Global growth is projected to be 2.9% in 2023

Global growth is projected to fall from an estimated 3.4% in 2022 to 2.9% in 2023, then rise to 3.1% in 2024, IMF’s January 2023 World Economic Outlook (WEO) said, Report informs.

The IMF predicts that GDP growth in advanced economies will be 1.2% this year, 1.4% next year, and 4% and 4.2% in emerging market and developing economies, respectively.

This year, GDP in the Middle East and Central Asia region is predicted to grow by 3.2% and 3.7% in 2024.