The OECD projects a global GDP growth of 2.7% in 2024, down from 2.9% in 2023. This downturn is prevalent across advanced countries, and a recovery is anticipated only in 2025, as real incomes rebound from the impact of inflation, and central banks begin to reduce borrowing costs.
In a similar vein, the International Monetary Fund's (IMF) report titled 'World Economic Outlook - Navigating Global Divergences, October 23, indicates a baseline forecast of global growth slowing from 3.5% in 2022 to 3.0% in 2023 and 2.9% in 2024. Advanced economies are expected to experience a slowdown from 2.6% in 2022 to 1.5% in 2023 and 1.4% in 2024 due to tightening policies. Emerging market and developing economies are projected to see a modest decline in growth from 4.1% in 2022 to 4.0% in both 2023 and 2024.
Global inflation is forecasted to decrease steadily, from 8.7% in 2022 to 6.9% in 2023 and 5.8% in 2024, aided by tighter monetary policy and lower international commodity prices.
Core inflation is expected to decrease gradually, with a return to target levels not anticipated until 2025 in most cases.
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NITI Aayog launches the "Fiscal Health Index 2025"
The report also highlights state-specific challenges and areas for improvement.
Convergence of Science and Spirituality ensures a healthier future
Speech of Dr. Prasun Mishra, President AAPM, Chair, WISE Capitals on the 15th World Confluence of Humanity, Power and Spirituality on 27th December 2024
The Crisis in Bolivia
Political leaders must put aside their rivalries and focus on stabilizing the economy.
Assam Government hosts successful Investors' Roadshow in Kolkata
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India needs to reform both global and domestic policies to boost core sector growth
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Understanding the implications of India's revised GDP growth outlook
India's GDP growth rate forecast for FY25 has recently been revised downwards by several institutions, reflecting a broader economic slowdown.
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EIILM-Kolkata launches 'MBA Cloud ERP with SAP' in Eastern India
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The IMF World Economic Outlook, January 2025 - An analysis/review
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