IMF lifts 2023 growth forecast with boost from China reopening

GLOBAL growth is set to be higher than expected this year, the International Monetary Fund (IMF) said yesterday, raising its forecast on surprisingly strong consumption and investment while China’s lifting of zero-Covid restrictions provides another boost.

The IMF expects the world economy to expand 2.9% this year, slowing from 2022 to a rate that remains weak by historical standards, said its latest World Economic Outlook update.