World Economic Situation and Prospects 2024

World Economic Situation and Prospects 2024

The UN Department of Economic and Social Affairs estimates that global economic growth will be 2.4% in 2024 (2.7% in 2023).

Experts predict a slowdown in economic dynamics in most developed and developing countries due to tightening financial conditions, shrinking fiscal space and a deteriorating labor market situation. In 2024, economic growth in the USA will slow down to 1.4% (2.5% in 2023), in China - to 4.7% (5.3% in 2023), the total GDP of the CIS countries and Georgia will be 2.3% (3.3% in 2023).

In 2022–2023 The overall global inflation rate fell from 8.1% to 5.7%. Inflation is expected to slow further amid falling global commodity prices and weakening consumer demand amid tightening monetary policy. Also among the key global trends are an uneven recovery of the labor market, tightening monetary policy, rising borrowing costs and rising levels of external debt, and a decline in global trade volumes.

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