The global economy is expected to remain resilient, with the IMF projecting global GDP growth at 3.3%. Expansion is expected to be supported by technology-related investment and easing financial conditions. Disinflation is ongoing across many economies, though progress towards central bank targets remain uneven. Trade and investment may also show modest improvements, if policy uncertainty declines. However, downside risks remain, with a potential re-escalation of tariffs pressures, rising geopolitical tensions —particularly as U.S.–Iran relations worsen, increasing the likelihood of energy-market and shipping disruptions—and weaker-than-expected productivity posing threats to the outlook. Nonetheless, some upside potential remains if conditions stabilize. We will continue to monitor global developments and adjust as conditions evolve.
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