By
Minneapolis
CNN
—
The global economy is showing more resilience than economists previously thought — but, although some risks have abated, choppy waters could still be ahead, the International Monetary Fund said Tuesday.
In its latest update to its World Economic Outlook, the agency said it expects global growth of 3% in both 2023 and 2024. The IMF bumped up its 2023 projections by 0.2 percentage points from its previous estimate three months ago and kept the 2024 outlook unchanged.
“Global economic activity has proven resilient in the first quarter of this year, leading to a modest upward revision for global growth in 2023,” Pierre-Olivier Gourinchas, the IMF’s chief economist, said in a statement. “But global growth remains weak by historical standards.”
In April, as turbulence in the banking sector and a growing unease about a potential US debt default roiled markets and unsettled economic outlooks, the IMF downgraded its economic forecasts by one-tenth of a percentage point to 2.8%.
By July, the economic outlook has grown a little brighter: The Covid pandemic is no longer considered a global health crisis, supply chains are flowing more smoothly …
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