Despite wars in Europe and the Middle East, as well as interest rate hikes to combat inflation, the world economy delivered another strong performance in 2024. According to the IMF, global GDP is expected to grow by 3.2% this year, with employment growth remaining solid. Stockmarkets have risen by over 20% for a second consecutive year.
The Federal Reserve’s efforts to curb stubborn inflation are also showing signs of success, with interest rates at their highest levels in decades. Meanwhile, Bitcoin has seen a significant rally, increasing by 138% this year.
However, the World Bank faces challenges in serving all 78 poor countries, and some experts question whether adults are forgetting how to read. The IMF’s growth forecast is encouraging, but low inflation remains a puzzle. As the global economy continues to navigate these complexities, one thing is clear: the world economy is on the path to strong growth in 2024.
Source: https://www.economist.com/finance-and-economics/2024/12/10/which-economy-did-best-in-2024