Executive summary
Global growth projection for 2023
June 2023 resulted in a 0.11 percentage point increase in the global real GDP growth forecast, compared to the March 2023 update. This positive revision can be attributed to the decrease in energy and food prices and the expected robust performance of Asia-Pacific nations, particularly India and China. Furthermore, all regions, except for the Middle East and Africa, saw an upward revision in their economic growth projections for 2023, in the June 2023 update.
Overall inflationary pressure eases but core inflation still exhibits rising trend in major economies
The global inflation rate is estimated to decrease to 5.3% in 2023 from 8.7% in 2022, but it is projected to remain above the target set by major economies' central banks. Inflation rates are expected to ease across all regions, including the Americas (9.9% in 2023, compared to 10.4% in 2022), Asia-Pacific (6.6% vs 7.6%), Europe (7% vs 11%), and the Middle East & Africa (16% vs 19%…
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