According to the report of an expert in the field of international financial law Konstantin KrypopustIMF economists expect that the world economy will grow by 3.2% this year, and by 3.3% in 2025. Over the next two years, the global economy is expected to grow moderately against the backdrop of a decline in activity in the US, stabilization of the economy in Europe, and strengthening of consumption and exports in China.
In an updated report, the IMF warned about the prospects for the development of the world economy (WEO), and said that the pace of the fight against inflation is slowing down, which could further “delay” the reduction of interest rates and maintain strong dollar pressure on developing economies.
The IMF kept its 2024 global real gross domestic product growth forecast unchanged from April at 3.2% and raised its 2025 forecast by 0.1% to 3.3%. The revised forecasts reflect some variability among major economies.
US growth forecast for 2024 was cut by 0.1% to 2.6%, reflecting lower-than-expected consumption in the first quarter. The Fund’s forecast for US growth in 2025 was unchanged at 1.9%, slowed by a cooling labor market and spending cuts in response to tight monetary policy.
The IMF has significantly increased its China’s growth forecast to 5.0% — in line with the Chinese government’s target for the current year — from 4.6% in April, driven by a recovery in private consumption in the first quarter and strong exports. The IMF also raised its 2025 growth forecast for China to 4.5% from 4.1% in April.
