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IMF Boosts Global Growth Forecast Amid Lower Energy Costs

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The International Monetary Fund (IMF) has revised its forecast for global economic growth upwards for this year, buoyed by robust consumer spending and declining energy and commodity prices. 

The updated outlook anticipates a 3.1% expansion in global GDP, marking a 0.2 percentage point increase from previous projections made at the end of last year. This pace of growth is expected to be maintained into 2025.

For context, the average annual growth rate of the global economy from 2000 to 2019 stood at 3.8%.

Trade volumes are projected to rise by 3.3% in 2024 and 3.6% in 2025, figures that fall notably short of the historical average of 4.9%. Inflation expectations remain unchanged at 5.8% for the current year.

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31st Kopaonik Business Forum Kicks Off Amid Global Uncertainties

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Yulia Ustyugova, IMF Resident Representative For Serbia

Geopolitical Stability & Nearshoring Could Boost Serbia’s FDI

Solving geopolitical tensions, some of which are not within Serbia’s control, would support and strengthen foreign direct investment (FDI). Additionally, the ongoing trend of...

The forecast for Germany, Europe’s largest economy, suggests a modest GDP increase of 0.5% this year. Meanwhile, the IMF has significantly upgraded its growth expectations for Russia’s economy, with a 1.5 percentage point adjustment upwards to 2.6%.

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