WASHINGTON: The International Monetary Fund (IMF) on Tuesday projected global economic growth to come in at 3 per cent this year, the same as its last forecast in July.
For the coming year, the Washington-based lender revised its estimate slightly downwards, from 3 per cent to 2.9 per cent.
The IMF described the global economy as “still limping along,“ despite challenges ranging from high inflation and tight monetary policy, to Russia’s war on Ukraine and extreme weather events.
The slowdown is more pronounced in the industrialised world than in developing countries, the IMF said as it issued its latest World Economic Outlook.
In 2022, as Covid-19’s health and economic consequences began to wane, the global economy grew by 3.5 per cent. -Bernama
