Key Facts
• July 29, IMF released its latest World Economic Outlook (WEO).
• India’s 2025 and 2026 growth forecasts raised from 6.2% to 6.4%.
• Revision reflects “better-than-expected external environment” since April.
• Global growth forecast for 2023 increased to 3.0%, 2024 to 3.1%.
• Emerging and developing economies’ 2023 growth forecast raised from 3.7% to 4.1%.
• Optimism about China’s economic outlook contributed to global revisions.
Summary
The International Monetary Fund (IMF) has revised India’s economic growth forecast for 2025 and 2026 to 6.4%, up from the previous estimate of 6.2%, citing improved global economic conditions. Released on July 29, the latest World Economic Outlook (WEO) highlights a more favorable external environment since April. Additionally, the IMF raised its 2023 global growth forecast to 3.0% and 2024 to 3.1%, with emerging and developing economies expected to grow by 4.1% in 2023, up from 3.7%. Optimism surrounding China’s economic recovery played a significant role in these upward revisions.
