The International Monetary Fund (IMF) has raised the global growth forecast for 2023.
It’s pegging global growth of 2.9% this year, compared to its October estimate of 2.7%.
It also sees global inflation slowing from an estimated 8.8% in 2022 to 6.6% this year.
And this supports market expectations that central banks are likely to be less aggressive
in raising interest rates as inflation has peaked.
Interestingly for South Africa, the international lender has pegged economic growth of 1.2% this year, markedly higher than the Reserve Bank’s forecast of 0.3%.
For more on this story, I’m joined in the studio by my colleague, Nompumelelo Siziba who’s been covering this story.
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