Economics

IMF upgrades global growth forecast, but eurozone gets a cut

The International Monetary Fund raised its forecast for global growth, but dropped its expectations for the euro area in its latest update

Pierre-Olivier Gourinchas , IMF chief economist. ‘The global economy continues to display remarkable resilience, and we are now in the final descent toward a soft landing with inflation declining steadily and growth holding up.’ Picture: Getty

The International Monetary Fund raised its forecast for global growth this year on better-than-expected expansion in the US and fiscal stimulus in China but the euro area’s growth expectation was chopped due to the impact of the Ukraine war.

The world economy will grow 3.1 per cent this year, up from 2.9 per cent seen in October, the Washington-based institution said in its quarterly World Economic Outlook on Tuesday. The fund kept its 2025 forecast ...