The World Bank has raised its 2023 global growth outlook as the United States, China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results.Real global gross domestic product (GDP) is set to climb 2.1 percent this year, the World Bank said in its latest Global Economic Prospects report on Tuesday. That’s up from a 1.7 percent increase forecast that was issued in January, but well below the 2022 growth rate of 3.1 percent.The development lender cut its 2024 global growth forecast to 2.4 percent from 2.7 percent in January, citing the lagged effects of central bank monetary tightening and more restrictive credit conditions that were reducing business and residential investment.
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