The World Bank has reviewed its growth projection for the world economy to 2.1% in 2023, up from a 1.7% expansion projected in January due to greater-than-expected resilience in major economies.
In tjis vein, the US GDP is seen rising by 1.1% this year against 0.5% projected in January and the Eurozone should advance by 0.4% (vs a flat outlook).
On other major economies, China is projected to grow by 5.6%, up from the 4.3% forecast in January.
Looking ahead, the bank cut its 2024 global growth forecast to 2.4% from 2.7%, citing the continuing effects of tighter monetary policy.
