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GLOBAL ECONOMY

A resilient economy still demands disciplined decisions

The IMF’s July 2025 outlook is a useful record of how trade uncertainty and changing financial conditions shaped forecasts.

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The IMF’s July 2025 update projected global growth of 3.0% for 2025 and 3.1% for 2026, revising its April outlook upward. The update pointed to front-loading ahead of tariffs, lower effective tariff rates and improved financial conditions among the factors behind the revision.

This is a historical forecast snapshot. Subsequent events and later forecasts must be considered when assessing current conditions.

NAG perspective. Long-term assets require decisions that look beyond a single forecast. The useful discipline is to understand the customer need, test the downside and match the capital structure to the life of the asset.

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