Page 8 - Policy Economic Report_Feb'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 2: Evolution of 2025 Growth Forecasts

Source – World Economic Outlook (IMF)

Global Inflation

• According to World Bank, global inflation has eased, with headline inflation falling from 5.6 per
cent in 2023 to an estimated 4.0 per cent in 2024. However, the pace of disinflation has slowed
due to sticky prices in housing and other services sectors as well as tight labour markets in
developed economies.

• Inflation is projected to decline further to 3.4 per cent in 2025, although this outcome will depend
on how trade restrictions evolve.

• In developed countries, inflation is expected to stabilize around central bank targets, creating
room for a further gradual easing of monetary policy.

• In developing countries, inflation is forecast to continue declining but to remain above its long-
term average in regions such as Africa and Western Asia, with some countries still experiencing
double-digit inflation.

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