IMF lifts 2023 growth forecast with boost from China reopening

Surprising resilience Most advanced economies are expected to slow this year, driving the global growth decline, said the IMF. The world's second-biggest economy has in the past contributed up to 40 percent of global growth, IMF chief Kristalina Georgieva previously noted. But the United Kingdom saw a significant downgrade to its growth forecast, and is now seen to contract 0.6 percent this year. The world's second-biggest economy has in the past contributed up to 40 percent of global growth, IMF chief Kristalina Georgieva previously noted. But the United Kingdom saw a significant downgrade to its growth forecast, and is now seen to contract 0.6 percent this year.