IMF expects global growth to settle at 3%

JOHANNESBURG - The International Monetary Fund is expecting global growth to settle at 3% for 2023.

However, for South Africa, growth is expected at 0.3% with blackouts being cited as one of the main reasons.

READ: IMF nudges up 2023 economic outlook but warns of slowing global growth ahead

The IMF raised its global forecast, citing resilient service sector activity in the first quarter of the year but it expects much of the growth this year and next to come from emerging and developing economies.

Despite a mildly better economic outlook, growth is subdued by weak growth among advanced economies.