The IMF lowered its estimates for global growth for 2022 to 4.4%, which is 0.5% lower than the previous estimate. Uncertainty about COVID & Omicron, global inflation, supply disruptions and U.S. monetary tightening posed risks. Less than expected growth in developed countries was also a major reason for the revision.
IMF said that growth for 2023 was expected at 3.8%. This growth trajectory is 2021: 5.9%, 2022: 4.4%, 2023: 3.8%.
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