UK to be worst-performing economy in G7 this year, IMF warns
1 year, 8 months ago

UK to be worst-performing economy in G7 this year, IMF warns

The Independent  

Britain is on course for the worst economic performance of any country in the G7, the International Monetary Fund has predicted, as it warned of more turmoil in a “fragile” global financial system. “Notably, emerging market and developing economies are already powering ahead in many cases, with growth rates jumping from 2.8 per cent in 2022 to 4.5 per cent this year,” the IMF said. “But core inflation, excluding the volatile energy and food components, has not yet peaked in many countries.” The IMF is now forecasting a global real GDP growth rate of 2.8 per cent in 2023 and 3.0 per cent in 2024, marking a sharp slowdown from 3.4 per cent growth in 2022. He said that the short-term shock of soaring energy prices was partially to blame, given the UK’s “particular dependence” on energy imports, but added: “Brexit is clearly a big issue for us, and the uncertainty caused by last autumn has been an issue for us.” Mr Johnson also said that a lack of investment in long-term infrastructure projects that could potentially have boosted growth was “absolutely” holding Britain back. Sir John, who campaigned against the government’s decision to hike corporation tax this month from 19 per cent to 25 per cent, said the increase “is going to damage growth and investment here”.

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History of this topic

UK economy shrinks again in another blow to Reeves, new figures show
3 weeks, 6 days ago

UK economy shrinks again in another blow to Reeves, new figures show

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves said the figures were disappointing “We are determined to deliver economic growth as …

UK economic growth upgraded this year amid ‘temporary boost’ from spending
2 months, 1 week ago

UK economic growth upgraded this year amid ‘temporary boost’ from spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections
2 months, 2 weeks ago

IMF Warns of Global Economic Headwinds, Downgrading Growth Projections

China Daily  

The International Monetary Fund (IMF) has downgraded its global growth projections for 2024, with a revised forecast of 3.2 percent for this year and 4.5 percent for 2025. The IMF warns about the global economic outlook, highlighting geopolitical risks, trade protectionism, and challenges in the real estate sector.

UK economic growth forecasts downgraded for next two years – economists
2 months, 2 weeks ago

UK economic growth forecasts downgraded for next two years – economists

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. EY Item Club’s latest quarterly economic forecast also suggested that caution by Bank of …

Britain facing biggest tax rise in G7 even before Reeves’s Budget
2 months, 2 weeks ago

Britain facing biggest tax rise in G7 even before Reeves’s Budget

The Telegraph  

The IMF warned that UK debt was on course to keep climbing until the end of the decade, putting it on an unsustainable path. Its chief economist warned this week that rising debt could leave the UK at the “mercy of market pressures” in the absence of a plan to drive it down. The IMF’s latest projections show “general government …

The IMF says Britain is back on track for growth - but Reeves could wreck it with a gung-ho budget, says ALEX BRUMMER
2 months, 2 weeks ago

The IMF says Britain is back on track for growth - but Reeves could wreck it with a gung-ho budget, says ALEX BRUMMER

Daily Mail  

Growth in Britain looks well set, with the International Monetary Fund once again upgrading forecasts. Budget threat: If Chancellor Rachel Reeves goes too far, raising taxes and scaring business and wealth creators witless, then she would place a fragile cyclical upturn in peril That erupted during the IMF’s annual meetings of two years ago following Liz Truss’s unaudited tax cutting …

US Economy Booms, Outperforming Global Leaders
2 months, 2 weeks ago

US Economy Booms, Outperforming Global Leaders

Live Mint  

The U.S. economy is leading the world in terms of productivity and wages, with a surge in investment boosting output and wages. The IMF projects U.S. gross domestic product to expand 2.5% in the fourth quarter, higher than the previous July forecast, while global output is projected to grow 3.3%. The U.S. is also expected to grow faster than all …

IMF's economic view: A brighter outlook for US but still-tepid global growth
2 months, 2 weeks ago

IMF's economic view: A brighter outlook for US but still-tepid global growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

OECD optimistic about UK's economy
3 months, 2 weeks ago

OECD optimistic about UK's economy

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. In an optimistic assessment likely to please the UK's new Labour Party government, the Paris-based organization said it expects the UK economy to be the joint-second fastest-growing among G7 nations. In its latest twice-yearly global economic outlook, the OECD predicted the …

Britain's booming... but Labour's gloom and doom hits High Street: Government urged to stop talking the country down
3 months, 2 weeks ago

Britain's booming... but Labour's gloom and doom hits High Street: Government urged to stop talking the country down

Daily Mail  

Labour has been urged to stop talking the country down after it was handed the biggest growth upgrade in the G7 but was warned that its doom-mongering was deterring ­consumer spending. The Organisation for ­Economic Cooperation and Development said Britain's gross domestic product will grow by 1.1 per cent this year, up from a previously forecast 0.4 per cent. But …

UK economic outlook brighter but growth held back by ‘uncertainties’, says BCC
4 months ago

UK economic outlook brighter but growth held back by ‘uncertainties’, says BCC

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s economy is set to …

UK economy the fastest growing in the G7 in 2024, economists say
4 months, 3 weeks ago

UK economy the fastest growing in the G7 in 2024, economists say

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That is why we have made economic growth our national …

New fears Brexit has ‘drained life out of UK economy’ following IMF report
5 months, 2 weeks ago

New fears Brexit has ‘drained life out of UK economy’ following IMF report

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please …

Strong consumption, exports spur IMF's brighter outlook for nation
5 months, 3 weeks ago

Strong consumption, exports spur IMF's brighter outlook for nation

China Daily  

The Inner Street Culture Creative Park is bustling with activity during the night market in Qingxiu district, Nanning, Guangxi Zhuang autonomous region, on April 16, 2024. Jean-Marc Natal, deputy chief of the World Economic Studies Division at IMF's Research Department, said at the briefing that one of the reasons for the upward revision "is that we expect that the new …

IMF boosts China's growth outlook to 5 percent for year
5 months, 3 weeks ago

IMF boosts China's growth outlook to 5 percent for year

China Daily  

Workers assemble doors for new energy vehicles at the Dayun New Energy Vehicle Production Base in Yuncheng, Shanxi province, on Jan 25, 2024. The International Monetary Fund raised its forecasts for China's economic growth to 5 percent this year and 4.5 percent next year, according to its July 2024 World Economic Outlook Update released on Tuesday. Pierre-Olivier Gourinchas, the IMF's …

Interest rate cuts under threat from ‘stubbornly high inflation’
5 months, 3 weeks ago

Interest rate cuts under threat from ‘stubbornly high inflation’

The Telegraph  

Interest rate cuts by the Bank of England and Federal Reserve are at risk of being derailed by stubbornly high inflation, the International Monetary Fund has warned. Pierre Olivier Gourinchas, the IMF’s chief economist, warned that underlying inflation remained “persistent”, with global growth likely to suffer if the US keeps borrowing costs at their highest level since 2001. Speaking at …

Britain to be fastest growing major European economy, IMF predicts
5 months, 3 weeks ago

Britain to be fastest growing major European economy, IMF predicts

The Telegraph  

Thanks for joining me. 5 things to start your day 1) National Grid: Britain will remain dependent on gas for years | Forecasts predict higher than expected demand, in blow to net zero ambitions 2) We’re not a c----- employer, insists Wetherspoon boss after attack by union chief | Rebuttal comes as chain is accused of being ‘anti-union’ and offering …

UK finally sees growth in economy during May
5 months, 4 weeks ago

UK finally sees growth in economy during May

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. The United Kingdom economy bounced back in May, showing signs of growth after a stagnant April and marking a continuation of the country's recovery from last year's recession. The Office for National Statistics, or ONS, reported a 0.4 percent increase in …

How Britain’s economy went from ‘gangbusters’ to flatlining in four weeks
6 months, 4 weeks ago

How Britain’s economy went from ‘gangbusters’ to flatlining in four weeks

The Telegraph  

This will be behind the US and Canada, where the economy will expand by 10.6pc and 9.7pc respectively, according to the Resolution Foundation’s analysis of IMF forecasts. “To get the growth rates up, you need sustained changes in the growth rates of productivity and labour force,” says Dales. “I think it is the right thing to assume that there is …

UK growth outlook brighter as consumer spending set to rebound, says CBI
7 months ago

UK growth outlook brighter as consumer spending set to rebound, says CBI

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. It’s encouraging to see that the outlook for the …

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades
7 months ago

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades

Firstpost  

“In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted” the IMF said in the World Economic Outlook The IMF on Tuesday said India's GDP would grow 7% in 2024-25. India’s GDP …

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth
7 months, 1 week ago

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth

Associated Press  

The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF’s report, issued late Tuesday, said the world’s second-largest economy will likely expand at a 5% annual rate this year, based on its growth in the first quarter and recent moves to support the property sector. …

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts
7 months, 2 weeks ago

Economy set for ‘soft landing’ as IMF upgrades UK growth forecasts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy is set …

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy
7 months, 2 weeks ago

IMF upgrades UK growth forecasts and warns Bank of England over 'delays' to interest rate cuts - as Jeremy Hunt swipes at 'unjustified pessimism' about economy

Daily Mail  

The IMF upgraded forecasts for the UK economy today as Jeremy Hunt swiped at 'unjustified pessimism'. The international body said Britain is on track for a 'soft landing', with GDP predicted to rise 0.7 per cent this year as inflation eases. Jeremy Hunt met the managing director of the IMF, Kristalina Georgieva, at Downing Street today Official figures for the …

UK no longer in recession after economy grows 0.6% in last quarter
7 months, 4 weeks ago

UK no longer in recession after economy grows 0.6% in last quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Jeremy Hunt said the economy …

U.K. exits recession with better-than-expected 0.6% GDP growth
7 months, 4 weeks ago

U.K. exits recession with better-than-expected 0.6% GDP growth

The Hindu  

The data will be welcome news for Prime Minister Rishi Sunak who said the economy had “turned a corner” Britain's economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an …

Sobering assessment: On the IMF forecast, World Bank report
8 months, 2 weeks ago

Sobering assessment: On the IMF forecast, World Bank report

The Hindu  

The global economy has avoided the spectre of a debilitating recession, with the IMF last week raising its forecast for worldwide aggregate growth in 2024 to 3.2%, from the 2.9% it had projected in October. The IMF has underlined the fact that the global economy has, with surprising resilience, ridden out several adverse shocks as well as ‘significant central bank …

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies
8 months, 3 weeks ago

IMF’s Georgieva says there’s ‘plenty to worry about’ despite recovery for many economies

Associated Press  

WASHINGTON — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but “there is plenty to worry about,’' including stubborn inflation and rising levels of government debt. In the United States, she said, “the flipside’’ of …

IMF forecasts India’s economy to grow 6.8% this fiscal year
8 months, 3 weeks ago

IMF forecasts India’s economy to grow 6.8% this fiscal year

The Hindu  

The International Monetary Fund on Tuesday raised its growth projection for India’s GDP in the current fiscal year 2024/25 to 6.8%, and forecast a 6.5% expansion next year. The global economy had remained “remarkably resilient” with steady growth and inflation returning to target and had “defied expectations of stagflation and global recession” in the wake of the post-pandemic supply disruptions, …

US economy to outpace G7 peers with double GDP growth rate this year, claims IMF
8 months, 3 weeks ago

US economy to outpace G7 peers with double GDP growth rate this year, claims IMF

Hindustan Times  

US has a 2x rate of GDP growth relative to any other G7 country this year, as per International Monetary Fund projections, while its economy gains the upper hand globally, creating wild market swings by itself. International Monetary Fund Chief Economist Pierre-Olivier Gourinchas holds the IMF's World Economic Outlook during a press briefing at the IMF-World Bank Group spring meetings …

IMF: Outlook for world economy is brighter, though still modest by historical standards
8 months, 3 weeks ago

IMF: Outlook for world economy is brighter, though still modest by historical standards

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong …

IMF head projects slightly stronger global growth in 2024 and warns of potential long-term pitfalls
8 months, 4 weeks ago

IMF head projects slightly stronger global growth in 2024 and warns of potential long-term pitfalls

Associated Press  

WASHINGTON — Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for ‘the Tepid Twenties’ -– …

UK economy went into shallow recession in 2023: Official data
9 months, 1 week ago

UK economy went into shallow recession in 2023: Official data

Live Mint  

Britain's economy entered a shallow recession last year, official figures confirmed on Thursday, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year. "The weak starting point for GDP this year means calendar-year growth in 2024 is likely to be limited to less than 1%," …

UK probably left recession as economy grows 0.2% in January
9 months, 3 weeks ago

UK probably left recession as economy grows 0.2% in January

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Data released by the Office for National Statistics said that GDP - a measure …

Britain to suffer highest inflation in the G7 in 2024 and 2025, OECD
11 months ago

Britain to suffer highest inflation in the G7 in 2024 and 2025, OECD

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. This verdict on their economic performance is yet more proof …

Report: US economy grew faster than any other G7 country last year
11 months, 1 week ago

Report: US economy grew faster than any other G7 country last year

Daily Mail  

America's economy is growing at a faster pace than any other G7 country in part thanks to a post-pandemic productivity boom, experts say. The IMF World Economic Outlook report estimates the US economy grew by 2.5 percent in 2023 - and is set for a similar 2.1 percent growth in 2024. Figures released today show US worker productivity grew at …

IMF raises growth forecast for global economy
11 months, 1 week ago

IMF raises growth forecast for global economy

Firstpost  

The two biggest economies in the world, China and the United States, have improved economic prospects, according to the International Monetary Fund, which raised its prediction for global growth on Tuesday. Although a “soft landing” appeared to be imminent, according to the IMF’s most recent World Economic Outlook, head economist Pierre-Olivier Gourinchas noted that global trade and overall GDP were …

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation
11 months, 1 week ago

IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation

Associated Press  

WASHINGTON — The International Monetary Fund has upgraded its outlook for the world economy this year, envisioning resilient growth led by the United States and a slower pace of inflation. But Gourinchas said that for now, the Red Sea disruptions don’t seem to be “a major source of reigniting supply side inflation,” which arose from far more severe shipping backlogs …

UK economy in ‘horrible bind’ as recession looms, say experts
1 year, 2 months ago

UK economy in ‘horrible bind’ as recession looms, say experts

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The IFS said there was little room for the tax cuts wanted by Tory MPs …

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks
1 year, 2 months ago

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks

Associated Press  

DUBAI, United Arab Emirates — Middle East economies are gradually recovering as external shocks from the war in Ukraine and global inflation fade, the International Monetary Fund said Thursday, but the escalating war between Israel and the Hamas militant group could dampen the outlook. The IMF expects economic growth to slow to 2% this year in the Middle East and …

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks
1 year, 2 months ago

IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The IMF expects economic growth to slow to 2% …

IMF projects faster economic growth for Pakistan; sets growth rate at 2.5 per cent for 2023
1 year, 2 months ago

IMF projects faster economic growth for Pakistan; sets growth rate at 2.5 per cent for 2023

Firstpost  

The International Monetary Fund’s World Economic Outlook for October, released on Tuesday, forecasts a growth of 2.5 per cent for the country’s economy in the current year, doubling to 5 per cent in the next fiscal year The IMF expects Pakistan’s economy to perform better in the current and next fiscal years compared to other multilateral agencies’ projections despite the …

Amid Israel-Hamas conflict, IMF outlook worsens for a 'limping' world economy
1 year, 2 months ago

Amid Israel-Hamas conflict, IMF outlook worsens for a 'limping' world economy

Hindustan Times  

The world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, International Monetary Fund warned Tuesday. “The global economy is limping along, not sprinting," IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the …

IMF outlook worsens for a ‘limping’ world economy. Mideast war poses new uncertainty
1 year, 2 months ago

IMF outlook worsens for a ‘limping’ world economy. Mideast war poses new uncertainty

Associated Press  

The world economy has lost momentum from the impact of higher interest rates, the invasion of Ukraine and widening geopolitical rifts, and it now faces new uncertainty from the war between Israel and Hamas militants, International Monetary Fund warned Tuesday. “The global economy is limping along, not sprinting,” IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the …

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap
1 year, 3 months ago

Why Britain will beat IMF’s bleak forecasts – but still faces a low-growth trap

The Telegraph  

The accuracy of the International Monetary Fund’s forecasts has come under greater scrutiny than ever after it published gloomy predictions that analysts warned were already out of date. The Fund claimed Britain’s economy will be the worst performing in the G7 next year, posing a potential headache for Rishi Sunak as he fights the next general election. The latest predictions …

IMF downgrades outlook for ‘limping’ world economy, with Mideast posing new challenge
1 year, 3 months ago

IMF downgrades outlook for ‘limping’ world economy, with Mideast posing new challenge

LA Times  

The International Monetary Fund and World Bank are holding their annual meetings in Marrakech, Morocco. “The global economy is limping along, not sprinting,” IMF chief economist Pierre-Olivier Gourinchas said at a news conference during the organization’s annual meeting, which is being held in Marrakech, Morocco. It’s “too early” to assess the impact on global economic growth from the days-old war …

IMF predicts Indian economy to grow at 6.1 percent in 2023
1 year, 5 months ago

IMF predicts Indian economy to grow at 6.1 percent in 2023

Deccan Chronicle  

Washington: The International Monetary Fund has predicted that India's economy will grow at 6.1 percent in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment. IMF said in the latest update of the World Economic Outlook that growth in …

IMF global economic outlook sees slight growth, but inflation still a drag
1 year, 5 months ago

IMF global economic outlook sees slight growth, but inflation still a drag

Associated Press  

WASHINGTON — Global growth will see a slight improvement compared to previous International Monetary Fund projections but “many challenges still cloud the horizon, and it is too early to celebrate,” the organization’s chief economist said Tuesday. IMF economist Pierre-Olivier Gourinchas gave his assessment as the organization projected that global economic growth will slow to an estimated 3% in 2023 and …

IMF global economic outlook sees slight growth, but inflation still a drag
1 year, 5 months ago

IMF global economic outlook sees slight growth, but inflation still a drag

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Global growth will see a …

IMF projects Indian economy to grow at 6.1% in 2023
1 year, 5 months ago

IMF projects Indian economy to grow at 6.1% in 2023

The Hindu  

The IMF on July 25 projected a growth rate of 6.1% for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection. “Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection,” it said in its latest update of the World Economic Outlook. Inflation …

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