Economists at the International Monetary Fund (IMF) expect the rate of global growth to pick up this year and climb higher in 2021, following a lackluster 2019 in which the world economy expanded at its slowest pace since the 2008 financial crisis.
The IMF predicts that global gross domestic product (GDP) will expand by 3.3 percent in 2020, up from 2.9 percent in 2019, the Washington-based institution stated in its Jan. 20 update to its World Economic Outlook. Global growth in 2021 is expected to tick up to 3.4 percent, putting the rate of economic expansion on an upward, although moderate, trajectory.
