For emerging market and developing economies, growth is expected to remain at 4.1% in 2024 and increase to 4.2% in 2025.

As for advanced economies this year their growth will be 1.5% one percentage point less than 2023 but is expected to reach 1.8% by 2025.

According to the report, inflation is declining faster than expected in most regions as supply-side concerns dissipate and tight monetary policy is implemented. The global headline inflation level is forecast to fall to 5.8% in 2024 and 4.4% in 2025, a downward revision to the 2025 forecast.

Overall, in approximately 80% of the world's economies, annual headline and core inflation averages are expected to decline by 2024.

The projections put world trade growth at 3.3% in 2024 and 3.6% in 2025, below the historical average growth rate of 4.9%. Increased trade disruptions and geo-economic fragmentation are expected to continue to weigh on the level of global trade.

According to the Banco Central de Reserva de El Salvador, economic growth projections for the country in 2024 range from 2.5% to 3%, while the IMF's growth projections for El Salvador are 1.9%.

Translated by: A.M