The International Monetary Fund (IMF) has cut its global growth forecast for 2023 slightly as the pace of interest rate hikes slowed. According to the International Monetary Fund's latest World Economic Outlook report, the risks of contagion in the banking system were contained by strong policy measures following the collapse of two US banks and the forced merger of Credit Suisse. This unrest has added to the uncertainty caused by rising inflation and the spillover effects of the Russian war in Ukraine.
The International Monetary Fund expects global real GDP growth to be 2.8 percent in 2023 and 3 percent in 2024, a sharp decline from 3.4 percent growth in 2022 as a result of tightening monetary policy.
Source (Al-Arabiya.net Website, Edited)
