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5d ago

IMF Revises Global Growth Forecast to 2.8% for 2025, Cuts Projections for Key Economies

The latest World Economic Outlook cites weaker oil recovery, trade tensions, and delayed reforms as major factors behind the downgrades for Saudi Arabia, India, Nigeria, and the Middle East.

A drone view shows cityscape in Riyadh, Saudi Arabia - November 15, 2024 REUTERS/Mohammed Benmansour/File Photo
A man walks along a wall overlooking the central Mumbai's financial district skyline, India, March 9, 2017. REUTERS/Danish Siddiqui
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Overview

  • The IMF's April 2025 update lowers global GDP growth for 2025 to 2.8%, a 0.5 percentage point drop from its January estimate.
  • Saudi Arabia's 2025 growth forecast is cut to 3.0% from 3.3%, reflecting slower oil production recovery and fiscal strains from reduced crude prices.
  • India's growth projection for 2025 is revised down to 6.2% from 6.5%, with trade tensions and global policy uncertainty cited as key drags.
  • Nigeria's economic growth forecast for 2025 is reduced to 3.0%, attributed to weakening oil prices and external headwinds.
  • The IMF highlights risks such as trade disruptions, declining commodity prices, and structural reform delays, urging governments to adopt fiscal and policy adjustments.