The International Monetary Fund on Tuesday slightly raised its global growth forecast, saying the economy had proven "surprisingly resilient" despite inflationary pressures and monetary policy shifts.
The IMF now expects global growth of 3.2% in 2024, up by a modest 0.1 percentage point from its earlier January forecast, and in line with the growth projection for 2023.
The IMF's chief economist, Pierre-Olivier Gourinchas, said the findings suggest the global economy is heading for a "soft landing," following a string of economic crises, and that the risks to the outlook were now broadly balanced.
"Despite gloomy predictions, the global economy remains remarkably resilient, with steady growth and inflation slowing almost as quickly as it rose," he said in a blog post.
But dimmer prospects in China and other large emerging market economies could weigh on global trade partners, the report said.
Persons:
Pierre, Olivier Gourinchas
Organizations:
Monetary Fund, IMF, U.S
Locations:
Nanjing, China