China and India will account for half of the global GDP growth this year, while the share of the United States and the Eurozone will be only 10%, according to an assessment by the International Monetary Fund (IMF). This was stated by the IMF's Chief Economist, Pierre-Olivier Gourinchas, at a press conference in Singapore regarding the release of the January updates to the fund's report on the global economic outlook for 2023. He noted, "China and India will account for half of the global economic growth this year, while the US and Eurozone will only contribute 10%."
In the report, the IMF raised its global GDP growth forecast to 2.9% for 2023, while lowering it to 3.1% for 2024. According to the IMF, China's GDP will grow by 5.2% in 2023, and India's economic growth rate is expected to be 5.4% this year. Meanwhile, the GDP in the United States is projected to grow by 1.4% this year, and in the Eurozone, by 0.7%.
