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.
Denne historien er fra February 1 - 29, 2024-utgaven av BUSINESS ECONOMICS.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 1 - 29, 2024-utgaven av BUSINESS ECONOMICS.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Bank of Baroda, Kolkata Zone organised Mega Kisan Melas in West Bengal
Bank of Baroda (BOB) organised Mega Kisan Mela at Konkalitala in Birbhum District of West Bengal on November 18, 2024 as a part of the 7th Edition of the Baroda Kisan Pakhwada (BKP).
Time-Bound Disposal of Cases to Expedite the Delivery of Justice and affordabe by all in India
The delay in the disposal of cases in Indian courts remains a significant hurdle to the nation's progress.
Dev Deepawali: A grand celebration of light, spirituality, and culture in Varanasi
The holy city of Varanasi, often regarded as India's spiritual and cultural heart, came alive with the splendor of Dev Deepawali on the sacred day of Kartik Purnima.
The life of Job 'Ye judge not the judgment of God' - Jesus Christ
The Holy Bible reveals through the life of Job how the Lord tests the righteous and that faith helps one to overcome life's adversities.
India has the highest potential for the garment industry, only a conducive government policy is required.
India's textile industry is poised for remarkable growth, with expectations to double its contribution to the GDP within the next six to seven years.
Global Public Debt may be worse than it appears, warns IMF
Global Public Debt Set to Exceed $100 Trillion, Warns IMF
The economic consequences of Trump's Presidency: A global perspective
One of the key economic factors contributing to the Democrats' loss in the US elections was the significant rise in inflation, which was initially triggered by the COVID-19 pandemic and exacerbated by the Russia-Ukraine war.
Challenges and Successes in West Bengal's Education Sector: A Comprehensive Overview
The education system in West Bengal, particularly in districts, villages, slums, and government institutions, reflects a blend of progress and ongoing challenges.
What India can expect from Trump's return
I may be too early to predict how Donald Trump's second term as president will impact the global oil market.
Stocks Surge Following Donald Trump's Election as 47th President of the USA
Stocks soared following the election of Donald Trump as the 47th President of the United States. Investors anticipated that the Information Technology (IT) sector would benefit from lower corporate taxes under the Republican regime, with IT stocks leading the rally.