Daily Management Review

IMF forecasts global GDP growth to slow to 2.8% by the end of the decade


The International Monetary Fund (IMF) forecasts that by the end of the decade, global economic growth will slow down to 2.8% annually. The circumstances could alter due to structural reforms or technological advancements.

"In the absence of major technological advances or structural reforms, we expect the world economy to grow at 2.8% by 2030, well below the historical average of 3.8%," said the International Monetary Fund.

Experts claim that without new technology or governmental involvement, faster growth rates than those seen in the past are not achievable. The advent of artificial intelligence (AI) technology could be beneficial in the medium run, according to the IMF. The technology may have an impact on the world economy of 0.8 percentage points. 

According to the IMF, policies aimed at promoting trade openness, market competition, and financial resource accessibility might raise global growth by roughly 1.2 percentage points by 2030.

source: imf.org