The world economy is expected to grow 3.2 per cent in 2024.
WASHINGTON - The International Monetary Fund held its global growth expectations for 2024 steady in a report on July 16 even as it cut forecasts for the United States and Japan, while warning of inflation risks and trade tensions ahead.
The Washington-based lender also cautioned that upside risks to inflation have increased, with services prices holding up disinflation. On whether risk assessments shifted after the attempted assassination of former US president Donald Trump, the Republican Party’s nominee in November’s election, Prof Gourinchas earlier told AFP that the fund will consider its implications.
The euro area meanwhile is showing signs of recovery, with relatively strong services activity, Prof Gourinchas said, although manufacturing shows weakness. Should domestic demand weaken, China would rely more on the external sector – a situation that countries like the US are pushing back against.
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