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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Denne historien er fra February 1 - 29, 2024-utgaven av BUSINESS ECONOMICS.
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Deposit shortage: challenges facing India's banking ecosystem
In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.
India's future dreams in Semiconductors & AI
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".
The Ramayana: Justice and Modern Man
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Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
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Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.
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RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.
UK Budget
There _ he latest UK budget represents a departure from previous fiscal documents.
Han Kang's Historic Nobel Prize Win
The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.
