KYIV, Jan 31 – The International Monetary Fund (IMF) has raised its global economic growth forecast for 2023 to 2.9% from 2.7% in October, the IMF said in a report.

"Global growth is projected to fall from an estimated 3.4% in 2022 to 2.9% in 2023, then rise to 3.1% in 2024. The forecast for 2023 is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook (WEO) but below the historical (2000–2019) average of 3.8 percent. The rise in central bank rates to fight inflation and Russia’s war in Ukraine continue to weigh on economic activity," the IMF said.