The International Monetary Fund (IMF) has cut its projections for global economic growth in 2024 amid still high inflation in various countries. Based on the latest World Economic Outlook (WEO) report released Tuesday (10/10/2023), the IMF projects global growth to reach 2.9 percent for 2024, down 0.1 percent from the WEO report in July 2023. The projection is below the 3.8 percent average over the two decades before the pandemic. The projected economic growth in 2023 will not change at the level of 3 percent. The decline in the economic outlook is based on the prospect of high inflation next year. The IMF also raised its global inflation forecast for 2024 and called on central banks to keep policy tight, until price pressures subside for a long time. In the latest WEO report, the IMF increased its global inflation projection to 5.8 percent. This figure is up from 5.2 percent last month. The IMF also estimates that inflation will be above the central bank's target until 2025. The surge was driven by a number of factors, including supply chain disruptions due to the Covid-19 pandemic, fiscal stimulus in response to global lockdowns, tight demand and labor markets in the US, and food and energy disruptions resulting from Russia's invasion of Ukraine which then had a particular impact on Europe and England. Since April 2023, the IMF itself has also warned that the medium-term outlook is weakening. Factors hampering this expansion are the long-term impact of the pandemic, namely the invasion of Ukraine, the splitting of the world economy into several blocs and the tightening of central bank policy. Read our other insightful economic news: https://bit.ly/FPGGlobalEco #FPG #Fortuneprimeglobal #commodity #equity #technicalanalysis #technology #news #investors #intraday #investing #fundamentalanalysis #stake #markets #liquidity #nasdaq #forex #portfolio #trading #capital #stocks #margins #facts #livetrading #economicnews #derivatives #globalnews #globaleconomy