The Strategist

IMF head says global economic growth in 2023 slightly exceeds forecasts

01/17/2024 - 10:34

Global economic growth in 2023 was a little faster than anticipated, and this will help things in 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund (IMF).

She stated, "The global economy has been remarkably resilient," during a Davos interview with Bloomberg. "2023 has surpassed our expectations by a small margin. And that optimistic outlook will persist until 2024."

The IMF predicted in October's World Economic Outlook (WEO) that the world economy will expand by 2.9 percent in 2024 and 3 percent in 2023. This month will see the release of the upcoming WEO.

Georgieva predicts a "soft landing" for the US economy as interest rates begin to decline.

The likelihood of a "soft landing" for the US economy has grown, according to remarks made earlier on Tuesday by Gita Gopinath, First Deputy Governor of the IMF, during a World Economic Forum (WEF) session in Davos.

The world's top central banks are expected to quickly lower key rates, but Gopinath noted that this is "somewhat premature" given the ongoing battle against inflation.