IMF cuts 2023 global growth to 2.8% as impact of Ukraine war lingers

World Economy

The International Monetary Fund said Tuesday that global growth is forecast to fall to 2.8 percent in 2023, down 0.1 percentage point from the previous projection in January, as many countries still struggle with the fallout from the spread of COVID-19 variants and Russia’s war on Ukraine.

The forecast was revised also because higher interest rates meant to tame inflation are now putting a damper on economic growth, the IMF said. It compares with an estimated 3.4 percent last year.

“A return of the world economy to the pace of economic growth that prevailed before the bevy of shocks in 2022 an...

Kyodo News

Kyodo News