Global economy shows resilience amid synchronized slowdown in 2024
· World · Business Standard
The World Bank projects global economic growth at 2.4% for 2024, revised downward from earlier forecasts as synchronized slowdowns across major economies persist. Advanced economies are expected to grow at just 1.2%, while emerging markets and developing economies see a modest 4.0% expansion. The International Monetary Fund maintains a slightly more optimistic 3.2% global growth estimate for the year. Despite downward revisions, analysts note that the resilience of consumption and labor markets has prevented a sharper contraction. Global growth projections for 2025 remain cautiously stable, though downside risks from geopolitical tensions and high interest rates persist.
Why it matters
The revised growth projections directly affect India's export trajectory, investment climate, and fiscal space as global demand softens. Indian policymakers will need to navigate the moderating external environment while supporting domestic consumption.
Read the original report — Business Standard
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