World Bank projects 2.1% growth for global economy in 2023

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.

Leave a Reply

Your email address will not be published. Required fields are marked *