AMMAN: The International Monetary Fund (IMF) announced that it had raised its forecast for global growth for 2023 by 0.2 percent and predicted a decline in global inflation by the same rate.
According to the updated World Economic Outlook report issued Tuesday and published by the IMF on its official website, the slowdown is concentrated in advanced economies, where growth would decline from 2.7 percent in 2022 to 1.5 percent in 2023 and remain weak and not exceed 1.4 percent next year.
Jordan news agency (Petra) reported IMF also predicted a sharp slowdown in growth in the euro area, which is still unbalanced due to the sharp rise in gas prices last year because of the Ukrainian war.
The Fund expected growth in emerging markets and developing economies to rise, with an acceleration of growth on an annual basis from 3.1 percent in 2022 to 4.1 percent this year and next. – Bernama