World Economic Outlook

The World Economic Outlook by the IMF staff provides analyses of global economic developments and issues affecting industrial, developing, and transitioning economies. The forecast predicts a 3.2% growth for the world economy in 2024 and 2025, with a slight acceleration for advanced economies and a modest slowdown for emerging markets. Global inflation is expected to decline steadily, with advanced economies reaching their targets sooner than emerging markets. The forecast for global growth in five years is at its lowest in decades. Despite significant central bank interest rate hikes, the global economy has shown resilience, with changes in mortgage and housing markets moderating the impact of policy rate hikes. Medium-term prospects point to lower growth in output per person due to structural frictions hindering capital and labor movement. Additionally, dimmer growth prospects in China and other large emerging economies will impact trading partners. The report also includes annexes, boxes, charts, and a statistical appendix to support the analysis.