IMF: The Rate of Global Recovery Varies by Location and is Often Slow

Global: The world economy is expected to grow at the same rate of 3.2% in 2024 and 2025 as it did in 2023, according to the baseline prediction. A moderate decline in emerging market and developing nations, from 4.3 percent in 2023 to 4.2 percent in both 2024 and 2025, will counterbalance a minor acceleration for advanced economies, where growth is predicted to rise from 1.6 percent in 2023 to 1.7 percent in 2024 and 1.8 percent in 2025. Five years from now, the predicted 3.1% growth rate for the world economy is the lowest in decades. According to forecasts, global inflation would gradually decrease from 6.8% in 2023 to 5.9% in 2024 and 4.5 percent in 2025. Developed nations are expected to return to their inflation targets earlier than emerging market and developing economies. Generally speaking, core inflation is expected to decrease more gradually.

Source: IMF