This growth projection is 0.1 percent higher than the 2.6 percent IMF’s forecast in October 2021.It also raised the 2023 projection from an initial 2.3 percent to 2.7 percent., owing to the rebound to higher oil prices as well as accelerated growth in telecommunication and financial services.
Similarly, the IMF reduced its global economic forecast to 4.4 percent in 2023, representing 0.5 percentage points lower than the 4.9 percent projected in 2022 in the October report.The report also stressed that the new Omicron COVID-19 variant would affect most economies.
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