Conservative Outlook of Economic Growth

The hope is for a world recession, if it happens, to grow slowly rather than a sharp contraction. Perhaps inflation will remain above the normal average.

SALOMO TOBING

Ari Kuncoro

Recently the International Monetary Fund has revised its global growth forecast from cautiously pessimistic to positive-conservative. The prediction for world economic growth in 2023 raised the growth forecast for 2023 to 2.9 percent from the previous 2.67 percent.

The IMF remains conservative, shown by smoothing growth predictions in 2023, but it will remain conservative in 2024 at 3.1 percent. In addition, inflation in 84 percent of the countries in the world is expected to fall from 8.8 percent in 2022 to 6.6 percent in 2023 and 4.1 percent in 2024.