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US Treasury Secretary Janet Yellen said that her department expects prices to decline in 80% of the world’s countries in 2024.
On the eve of the meeting of finance ministers and central bank governors of the G20 countries, Yellen indicated that the expectations of the International Monetary Fund and other relevant institutions about a widespread slowdown in the global economy in 2023 have not been met.
Instead, economic growth reached 3.1%, better than expected, inflation fell, and prices are expected to continue to fall in about 80% of countries this year, it reported.
The minister added: “In the future, we will continue to take into account the risks facing the global economy and monitor the economic challenges in some individual countries, but the global economy remains stable.”
She explained that inflation in the United States has also decreased significantly compared to peak values, and that the labor market is “historically strong.”
Secretary Yellen stressed that economic growth in the United States was the “main factor” for higher than expected growth in global economic growth indicators.
Source: Agencies