The IMF has said that global economic growth could fall to 3 percent this year, down from 3.5 percent last year. However, growth is expected to rise again to 3.4 percent in 2027. Although this year's growth is slightly lower than the forecast published in April, the organization expects the economic recovery to be stronger next year.
According to the organization, while the ongoing conflict centered on Iran is putting pressure on the economies of fuel-importing countries, the global economy remains in a more stable position than feared.
The IMF says a key reason for this is unprecedented investment in the technology sector, particularly in AI-dependent industries. Investments by major US technology companies are also rapidly expanding the economies of countries that produce chips and hardware.
More to Read
According to the organization's data, the economic growth of Taiwan, South Korea, Thailand, and Malaysia—which are top exporters of AI-related chips and hardware—is outpacing the IMF's previous forecasts.
Meanwhile, this year alone, four US tech giants—Alphabet, Amazon, Meta, and Microsoft—have collectively planned to invest approximately 700 billion dollars (about 70 thousand crore dollars) in the AI sector.
The IMF also said that due to the increase in global demand for semiconductors or chips, South Korea's economy is also performing better than expected. The country's growth is forecast to be 2.6 percent this year, which is 0.7 percentage points higher than the April forecast.
According to analysts, despite ongoing geopolitical uncertainty and global trade risks, the AI-based technology sector could become one of the main drivers of growth for the global economy in the coming years.