The IMF Raises Its Global Economic Growth Forecast for 2023, with China Leading the Way

The International Monetary Fund (IMF) on Monday raised its global economic growth forecast for this year, although it warned that interest rate hikes by global central banks and the continuation of the Russia-Ukraine conflict may still drag global economic activity.

In its latest economic forecast, the IMF raised its forecast for this year’s global economic growth to 2.9%, up 0.2 percentage point from its October forecast (2.7%).

The report pointed out that with the optimisation and adjustment of China's pandemic prevention policy, China's economic growth rate will continue to increase in 2023, which may promote global economic growth. The IMF now sees the Chinese economy growing 5.2% in 2023, up from its forecast made in October last year (4.4%).