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The International Monetary Fund (IMF) has revised upwards its forecast for global GDP growth. It is expected to remain at 3.3% in 2024 and 2025, IMF Chief Economist Pierre-Olivier Gorinchas said during the presentation of the updated World Economic Outlook (WEO).
The main points of the forecast:
- Global GDP: growth was revised up to 3.3%, which is 0.1% higher than the previous estimate.
- Inflation: is expected to decline to 4.2% in 2024 and 3.5% in 2025, reflecting a gradual stabilisation after the shocks of the COVID-19 pandemic and the war in Ukraine.
Regional forecasts:
- USA: The economy is showing improvement, with projected growth of 2.7% in 2024.
- Eurozone: Growth in 2025 has been downgraded to 1%, mainly due to high energy prices and low consumer confidence.
- China: Growth slows due to trade uncertainty.
Comparison with previous estimates
In October 2024, the IMF forecast that global growth would remain at 3.2%. The new review shows an improvement, reflecting the resilience of economies to external shocks.
According to the Fund’s experts, the stabilisation of inflation along with the recovery of key sectors of the economy points to a gradual return to pre-war levels. However, problems remain significant in some regions, such as Europe and China.
This optimistic outlook underscores the importance of adapting economic policies to current challenges to ensure sustainable development on a global scale.
