In addition, the Washington-based global lender forecast a decline in both unemployment and inflation in the nation in its most recent World Economic Outlook (WEO) report, which was made public on Tuesday.
The consumer price index (CPI) is expected by the IMF to increase by 24.8 percent this fiscal year and by 12.7 percent the next year. According to the analysis, the unemployment rate may fall to 7.5 percent in the upcoming fiscal year, as opposed to the 8.0 percent anticipated for 2024.
The international lender, meanwhile, kept a pessimistic prediction for the medium term but improved its estimate for the world economy this year.
The global economy is now expected to grow by 3.2 percent this year, up 0.1 percentage point from the IMF’s January prediction, and by 3.2 percent more in 2025.
