Economics

IMF warns world’s economy may soon ‘teeter on the edge of recession’

Global growth outlook cut for this year and 2023

Global economic expansion will likely slow to 3.2% this year, less than the 3.6% forecast by the fund in April, the IMF said. Picture: Getty

The International Monetary Fund cut its global growth outlook for this year and next, warning that the world economy may soon be on the cusp of an outright recession.

Global economic expansion will likely slow to 3.2 per cent this year, less than the 3.6 per cent forecast by the fund in April and the 4.4 per cent seen in January, the IMF said in an update to its World Economic Outlook released today.

The ...