2023 to be tougher for global economy than 2022, IMF chief says
1 year, 11 months ago

2023 to be tougher for global economy than 2022, IMF chief says

Al Jazeera  

IMF Managing Director Kristalina Georgieva says one-third of world’s economies expected to be in recession this year. IMF Managing Director Kristalina Georgieva said 2023 will be a “tough year”, with one-third of the world’s economies expected to be in recession. Because the three big economies, US, EU, China, are all slowing down simultaneously,” Georgieva said during an appearance on the CBS program “Face the Nation” on Sunday. Georgieva said that China, the world’s second-largest economy, is likely to grow at or below global growth for the first time in 40 years as COVID-19 cases surge following the dismantling of its ultra-strict “zero-COVID” policy. And looking into next year, for three, four, five, six months the relaxation of COVID restrictions will mean bushfire COVID cases throughout China,” Georgieva said.

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History of this topic

India can be a $9 trillion economy by 2030: Arvind Panagariya
1 week, 5 days ago

India can be a $9 trillion economy by 2030: Arvind Panagariya

Live Mint  

India is poised to surpass the position of the world's third-largest economy by 2030, with its gross domestic product expected to expand to $6.5-9 trillion, said Arvind Panagariya, the chairman of the 16th Finance Commission of India, on Thursday. Speaking at the Times Network India Economic Conclave 2024, Panagariya, former vice chairperson of NITI Aayog, said the Indian economy, despite …

World economy to accelerate in 2025, but recovery threatened by higher tariffs, OECD says
2 weeks, 6 days ago

World economy to accelerate in 2025, but recovery threatened by higher tariffs, OECD says

Live Mint  

The global economy is set to grow at slightly a faster pace next year as inflation continues to cool, but could falter if tariffs rise and governments fail to narrow wide budget deficits, the Organization for Economic Cooperation and Development said Wednesday. “Growth continues to be resilient," said Alvaro Pereira, the OECD’s chief economist, in an interview with The Wall …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
1 month, 3 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

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

US Economy Booms, Outperforming Global Leaders
2 months 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 ago

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

The Independent  

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China's Economic Turnaround: A Positive Step but Structural Issues Remain
2 months, 1 week ago

China's Economic Turnaround: A Positive Step but Structural Issues Remain

Hindustan Times  

China's economy is showing signs of a turnaround, with the latest round of stimulus measures expected to boost growth. The bank upgrades its forecasts for 2024 and 2025, with an upgraded growth forecast for next year to 4.7%. Despite the positive outlook, Goldman Sachs cautions that structural issues such as demographics and debt remain and pose challenges beyond 2026.

A recession in America by 2024 looks likely
4 months, 1 week ago

A recession in America by 2024 looks likely

Live Mint  

Not long ago recessions seemed to strike America roughly once a decade. But because the world economy, asset markets and America’s politics are all fragile, it may yet have nasty and unpredictable consequences. An American recession would land another blow on vulnerable parts of the global economy by curbing demand for their exports. But after over a decade of cheap …

Responsive economic policies have mitigated risks and shock waves
5 months ago

Responsive economic policies have mitigated risks and shock waves

China Daily  

The skyline of Beijing. The IMF, as well as other international institutions such as Morgan Stanley, Goldman Sachs and UBS, all raised their forecast for China's economic growth this year, mainly because of the overall performance of the Chinese economy in the first half of the year and the effectiveness it has displayed in preventing and resolving risks. Since March, …

China's economic performance resilient amid challenges
5 months ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

China's economic performance resilient amid challenges
5 months ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year
6 months, 1 week ago

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

Associated Press  

WASHINGTON — The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. Stronger-than-expected growth in the United States — the world’s biggest economy — accounted for 80% of the World Bank’s upgraded outlook. But even after the World Bank’s upgrade, global …

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades
6 months, 2 weeks 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 …

Policy and resilience raise confidence in stable economic growth this year
6 months, 3 weeks ago

Policy and resilience raise confidence in stable economic growth this year

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. The International Monetary Fund has raised its forecast for China's economic growth for 2024 to 5.0 percent from the previous 4.6 percent. The IMF also raised its forecast for China's economic growth to 4.5 percent for next year, up 0.4 percentage points compared with its April projection. …

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth
6 months, 3 weeks 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. …

UN reports improved prospects for the world economy and forecasts 2.7% growth in 2024
7 months, 1 week ago

UN reports improved prospects for the world economy and forecasts 2.7% growth in 2024

Associated Press  

UNITED NATIONS — The United Nations reported improved prospects for the world economy since its January forecast on Thursday, pointing to a better outlook in the United States and several large emerging economies including Brazil, India and Russia. “Globally, energy and food prices are inching upward in recent months, but I think a bit more insidious even is the persistence …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 1 week ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

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

US economy to outpace G7 peers with double GDP growth rate this year, claims IMF
8 months, 1 week 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, 1 week 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, 1 week 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’ -– …

Next US recession may be pushed back to 2025, according to JPMorgan
8 months, 3 weeks ago

Next US recession may be pushed back to 2025, according to JPMorgan

Hindustan Times  

US recession may have just been delayed to 2025, as per a recent note from JPMorgan's trading desk that highlighted the strength seen in ISM manufacturing activity in March that jumped over 50 for the first time since September 2022 which represents an expansion in manufacturing activity. The data ended a 16-month decline in US factory activity amid a solid …

Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says
8 months, 3 weeks ago

Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says

Associated Press  

BANGKOK — Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023, the World Bank said in a report released Monday. Debt, trade barriers and policy uncertainties are dulling the region’s economic dynamism and governments need to do more to address long-term problems …

IMF head: China's high-quality growth depends on pro-market reforms
9 months ago

IMF head: China's high-quality growth depends on pro-market reforms

China Daily  

International Monetary Fund Managing Director Kristalina Georgieva delivers a speech at China Development Forum 2024 on March 24. "China is determined to choose transition from high rates to high quality of growth, as its government recognizes that high-quality development ultimately depends on reforms", International Monetary Fund Managing Director Kristalina Georgieva said at China Development Forum 2024 in Beijing on March …

Govt Work Report shows how China plans to leverage its advantages
9 months, 2 weeks ago

Govt Work Report shows how China plans to leverage its advantages

China Daily  

High-rises dominate the skyline on both sides of the Huangpu River in Shanghai. This year's blueprint is a plan for China to strengthen science and technology programs and to transform this massive emphasis on research and development into new industrialization policies to create a more efficient, high quality and green industrial base for the nation's future development, and that of …

Govt Work Report shows how China plans to leverage its advantages
9 months, 2 weeks ago

Govt Work Report shows how China plans to leverage its advantages

China Daily  

High-rises dominate the skyline on both sides of the Huangpu River in Shanghai. This year's blueprint is a plan for China to strengthen science and technology programs and to transform this massive emphasis on research and development into new industrialization policies to create a more efficient, high quality and green industrial base for the nation's future development, and that of …

China to remain top contributor to global growth in 2024: IMF
10 months, 3 weeks ago

China to remain top contributor to global growth in 2024: IMF

China Daily  

Despite a moderate slowdown, China's economy will remain the largest contributor to global growth in 2024, said Steven Barnett, senior resident representative of the International Monetary Fund in China. "China would still be the single-largest contributor to contribute over one-quarter of global growth this year," Barnett said in an exclusive interview with China Daily, adding that the over-a-quarter contribution is …

China to remain top contributor to global growth in 2024: IMF
10 months, 3 weeks ago

China to remain top contributor to global growth in 2024: IMF

China Daily  

Despite a moderate slowdown, China's economy will remain the largest contributor to global growth in 2024, said Steven Barnett, senior resident representative of the International Monetary Fund in China. "China would still be the single-largest contributor to contribute over one-quarter of global growth this year," Barnett said in an exclusive interview with China Daily, adding that the over-a-quarter contribution is …

Report: US economy grew faster than any other G7 country last year
10 months, 3 weeks 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
10 months, 3 weeks 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
10 months, 3 weeks 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 …

China’s economy expanded 5.2% last year, hitting the government’s target despite an uneven recovery
11 months, 1 week ago

China’s economy expanded 5.2% last year, hitting the government’s target despite an uneven recovery

Associated Press  

HONG KONG — China’s economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5% annual growth for 2023 even though trade data and the economic recovery remain uneven. Officials from China’s National Bureau of Statistics said that measures including “strengthened macro regulation, and redoubled efforts to expand domestic demand, …

China reports 5.2% GDP growth for 2023
11 months, 1 week ago

China reports 5.2% GDP growth for 2023

China Daily  

China's gross domestic product expanded by 5.2 percent in 2023 - meeting the country's preset annual growth target of around 5 percent, fueled by a slew of policy measures taking effect gradually last year, official data showed on Wednesday. Experts called China's 2023 GDP growth as "relatively fast" in contrast to other major economies, highlighting China's role as a key …

China reports 5.2% GDP growth for 2023
11 months, 1 week ago

China reports 5.2% GDP growth for 2023

China Daily  

China's gross domestic product expanded by 5.2 percent in 2023 - meeting the country's preset annual growth target of around 5 percent, fueled by a slew of policy measures taking effect gradually last year, official data showed on Wednesday. Experts called China's 2023 GDP growth as "relatively fast" in contrast to other major economies, highlighting China's role as a key …

Global economy will slow for a third straight year in 2024, World Bank predicts
11 months, 2 weeks ago

Global economy will slow for a third straight year in 2024, World Bank predicts

Associated Press  

WASHINGTON — Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024. “Near-term growth will remain weak, leaving many developing countries — especially the poorest — stuck in a trap: with paralyzing levels of debt and tenuous access to food for nearly one out of …

The global economy in 2024: Key clues to watch out for
11 months, 3 weeks ago

The global economy in 2024: Key clues to watch out for

Al Jazeera  

US interest rates, oil prices and the Chinese economy will determine the global economy next year. “And once an economic slowdown gets under way, it risks feeding on itself,” he said, adding that while falling inflation will be an important factor in determining monetary policy, “weakening growth will almost certainly determine when the Fed will pivot.” Federal funds futures are …

World Bank, ADB project China GDP growth of 5.2% in 2023
1 year ago

World Bank, ADB project China GDP growth of 5.2% in 2023

China Daily  

A view of Beijing's CBD area. The World Bank has predicted China's economy will have grown 5.2 percent in 2023, with momentum expected to stabilize in the near term, propelled by a gradual recovery of consumer sentiment and policy stimulus. As global growth is projected to remain tepid at 2.4 percent next year, the world's second-largest economy is expected to …

China’s economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’
1 year ago

China’s economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’

Associated Press  

HONG KONG — China’s economy grew at a 5.2% pace in the first three quarters of the year and showed signs of improvement in November, with factory output and retail sales rising, the government said Friday. “To further promote economic recovery, we need to overcome some difficulties and challenges.” China’s economy has the advantages of a vast market of 1.4 …

India Projected to Become World's Third-Largest Economy by 2030
1 year ago

India Projected to Become World's Third-Largest Economy by 2030

Deccan Chronicle  

New Delhi: American credit rating agency S&P Global Ratings said on Tuesday that India will become the world’s third largest economy by 2030 as it forecast the country’s gross domestic product or GDP growth reaching 7 per cent in the 2026-27 fiscal year. “India is set to become the third-largest economy by 2030, and we expect it will be the …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

The Independent  

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The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

LA Times  

A crane lifts a shipping container at an automated container port in Tianjin, China. The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and …

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 …

IMF downgrades outlook for ‘limping’ world economy, with Mideast posing new challenge
1 year, 2 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 chief says the global economy has shown resilience in the face of COVID, war and high rates
1 year, 2 months ago

IMF chief says the global economy has shown resilience in the face of COVID, war and high rates

Associated Press  

WASHINGTON — The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. “While the recovery from the shocks of the past few years continues, it is slow and it is uneven,’’ IMF Managing Director Kristalina Georgieva said …

IMF chief says the global economy has show resilience in the face of COVID, war and high rates
1 year, 2 months ago

IMF chief says the global economy has show resilience in the face of COVID, war and high rates

The Independent  

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Pessimism of some Westerners cannot hinder China's growth
1 year, 3 months ago

Pessimism of some Westerners cannot hinder China's growth

China Daily  

A view of the Huangpu River in Shanghai. However, the article comes just days after Bloomberg founder Michael Bloomberg visited China, met the governor of the People's Bank of China and other senior finance officials, and expressed his desire to have long-term and greater cooperation with Chinese financial organs which he said are playing an increasingly important role in the …

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