arabtimes May 30 24
Kuwait faces potential GDP contraction for second year:
KUWAIT CITY, May 30: A recent report has indicated that Kuwait may experience a GDP contraction for the ...
arabtimesonline.com/news/kuwait-faces-potential-gdp-contraction-for-second-year/
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Key FactsIMF upgrades global growth forecast despite risks
Apr 16, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: cnbc.com
Summary created with AI assistance · Source: cnbc.com
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
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