The IMF said the global economy has had an ‘eventful’ journey in the years since the Covid-19 pandemic
The IMF said the global economy has had an “eventful” journey in the years since the Covid-19 pandemic. Current risks to the global outlook are more or less balanced, meaning there could be both positive and negative surprises that skew forecasts, according to the IMF. Other risks include a possible slow recovery of China’s troubled property sector, which would have a knock-on effect on global trading partners.
It expects UK gross domestic product to hit 0.5% this year, a slight downgrade from the 0.6% growth it had forecast in January. The IMF predicted that the UK will see Consumer Prices Index inflation of 2.5% over 2024, before the rate comes down further to reach the Bank of England’s 2% target over 2025.