Key Points
The International Monetary Fund (IMF) bumped up Indias growth forecast for FY24, citing strong domestic investment while cautioning that the global economy is not out of the woods yet and that the worlds battle against inflation is far from over...
Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment, the IMF stated in its July update of the World Economic Outlook (WEO)...
The global recovery from the Covid-19 pandemic and Russias invasion of Ukraine is slowing amid widening divergences among economic sectors and regions, the IMF said...
The rise of geo-economic fragmentation with the global economy splitting into rival blocs, will most harm emerging and developing economies that are more reliant on an integrated global economy, direct investment, and technology transfers, said Pierre-Olivier Gourinchas, IMF economic counsellor and director of research, in a blog...
Global headline inflation is set to decline to 6.8% in 2023 from 8.7% last year, whereas core inflation will slow to 6% from 6.5% earlier, according to the IMF.. El Nio could bring more extreme temperature increases than expected, exacerbate drought conditions, and raise commodity prices, the report stated...
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