IMF remains optimistic about emerging market and developing economies in 2023

WASHINGTON, April 11 (Xinhua) -- The International Monetary Fund (IMF) said on Tuesday that the economic prospects of emerging market and developing economies are on average stronger than advanced economies.

"On average, growth is expected to be 3.9 percent in 2023 and to rise to 4.2 percent in 2024," the IMF said in the newly released World Economic Outlook report.

However, the prospects vary more widely across regions, it added.

The world economy is expected to grow less than 3 percent this year. However, growth rates for India and China, the two major developing economies, are estimated at 5.9 percent and 5.2 percent respectively.