The International Monetary Fund (IMF) said on Tuesday that the economic prospects of emerging market and developing economies were on average stronger than advanced economies.
“On average, growth is expected to be 3.9 per cent in 2023 and to rise to 4.2 per cent in 2024,” the IMF said in the newly released World Economic Outlook report.
However, the prospects vary more widely across regions, it added.
The world economy is expected to grow less than 3 per cent this year.
However, growth rates for India and China, the two major developing economies, were estimated at 5.9 per cent and 5.2 per cent respectively.
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