Global growth in 2023 is expected to hold steady at around 2.7% if China sticks with its Covid reopening plans, International Monetary Fund managing director Kristalina Georgieva said earlier this week.
China’s reopening is the single most important factor for global growth this year, according to Georgieva.
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"What is most important is for China to stay the course and not to back off from that," Georgieva said. “If they stay the course, by mid-year or there around, China will turn into a positive contributor to average global growth,” she said.
The IMF had forecast that global growth would slow to 2.7% in 2023 after falling from 6% in 2021 to 3.2% in 2022. It had previously forecast growth of 2.9% for 2023.
No further cuts are expected, the IMF chief said.
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