MOSCOW, May 11. /TASS/. The Bank of Russia has downgraded its outlook on growth rates of global economy for 2024-2025 due to an increase in uncertainty of economic growth prospects in a number of countries, as well as the tightening of global financial conditions that may notably affect the emerging economies, according to the report on the Central Bank’s monetary policy released on Thursday.

According to the regulator’s estimations, global economy may grow to 2.9% in 2023 after 3.4% in 2022. The Russian Central Bank’s global economy outlook for 2023 has been upgraded by 0.1 percentage points due to strong Q1 figures. Nevertheless, GDP growth outlook is even lower - at 2.8% for 2024, and at 3% for 2025.