Global growth prospects clouded, but India’s 7%+ real GDP growth to be spurred by investment and net exports
In the Apr’23 update to its World Economic Outlook, the IMF forecasts 2.8% real GDP growth for the world in CY23, followed by a mild improvement to 3% in CY24, primarily because of a sharp deceleration in Advanced Economies to 1.3% growth in CY23 and 1.4% in CY24. These forecasts are optimistic, in our view, particularly for the US.