The IMF gave a mixed global growth outlook, saying that the global growth estimation of 3.4% for 2022 is now projected at 2.9% for 2023 and 3.1% for 2024. The historical average for the period 2000–2019 has averaged 3.8%.
The flood of currency across the globe, which was meant to ease COVID issues, the war in Ukraine, and erratic supplies in commodities have forced countries to raise rates, which are slowing growth. Uneven growth in large economies like US and China are extensive risks.
Global inflation was estimated at 8.8% in 2022 to projections of 6.6% in 2023 and 4.3% in 2024 – the pre COVID average for 2017 – 2019 is 3.5%.
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