Business Maverick: IMF Eyes ‘Turning Point’ for World Economy as Growth Bottoms

The fund sees world consumer-price increases slowing to 6.6% this year, 0.1 percentage point higher than the October projection, following 8.8% in 2022. It forecast further slowing to 4.3% in 2024. Inflation rates are expected to be lower in about 84% of countries in 2023 than in 2022.

Inflation could also prove more persistent. Financial markets may become volatile, and international tensions spurred by Russia’s aggression could cause the global system to fragment, hampering cooperation between nations. The biggest upgrade was for the Russian economy, which the fund now predicts will expand 0.3% compared with a contraction of 2.3% seen in October.

The IMF boosted its forecast for emerging-market and developing economies, saying they will grow 4%, a 0.3 percentage-point upgrade from October and compared with 3.9% for 2022. It raised the estimate for China’s expansion by 0.8 percentage point to 5.2%.Read more: World Bank Cuts 2023 Forecasts and Warns of Global Recession

Meanwhile....back in South Africa....we decided to go the other direction cause we don't quit, we haven't reached the real bottom yet 🤦‍♀️

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