IMF: Global economic growth rate is estimated to be 3.2 percent this year

IMF: The International Monetary Fund (IMF) has increased the global growth rate estimate for this year to 3.2 percent. He has said that the outlook of the global economy remains bright, with inflation under control without economic loss, production will remain stable. In the latest world economic scenario, the Monetary Fund has estimated the global growth rate to be 3.2 percent this year. This is more than the estimate of 3.1 percent expressed in January. This level of growth rate is equal to 2023. According to the world economic outlook, the growth rate is expected to be 3.2 percent in 2025 also. If this happens, it will be the third consecutive year when the growth rate will be at this level. The Monetary Fund said in its latest assessment that the global economy is being boosted by unexpectedly strong growth in the US, the world’s largest economy.

The growth rate of American economy will be 2.7 percent – ​​IMF

The IMF estimates that the growth rate of the US economy this year will be 2.7 percent, which is more than the 2.1 percent estimated in January. This is more than the 2.5 percent increase in 2023. However, the sharp rise in prices across the world remains an obstacle. The IMF estimates that global inflation will decline from 6.8 percent last year to 5.9 percent in 2024 and 4.5 percent next year. Inflation in the world’s developed economies is expected to decline to 2.6 percent this year and two percent in 2025. It was 4.6 percent in 2023.

The reason for reduction in inflation is the effect of high interest rates. The US Central Bank Federal Reserve, Bank of Japan, European Central Bank and Bank of England have sharply increased the policy rate to bring down inflation to around two percent. The IMF has warned that economic growth could be hampered by the adverse effects of high interest rates and political tensions globally, including the war in Gaza. There is a risk of trade disruption and rising prices of energy and other goods due to ongoing global tensions.

The growth rate of China, the world’s second largest economy, is estimated to be 4.6 percent in 2024 and 4.1 percent next year. Whereas its growth rate in 2023 was 5.2 percent. At the same time, the growth rate of Japan, the world’s fourth largest economy, is likely to be 0.9 percent in 2024, which was 1.9 percent last year. The growth rate of the Euro area is expected to be 0.8 percent this year, which is double the growth rate of 2023. Britain’s economic growth rate is estimated to be 0.5 percent in 2024 and 1.5 percent next year, which was 0.1 percent in 2023.

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