The International Monetary Fund (IMF) has revised its economic forecasts, significantly upgrading the UK's growth forecast for 2024 to 1.1%, citing lower inflation and borrowing costs as stimulants for domestic demand. This optimistic outlook provides a boost to the UK's Chancellor Rachel Reeves ahead of her upcoming budget, despite inheriting challenging economic conditions. Conversely, the IMF has lowered the eurozone's growth projection for 2025 to 1.2% due to challenges in manufacturing affecting countries like Germany and France. The US remains the top performer in the G7 group, with expected growth rates of 2.8% this year and 2.2% next year. Globally, the IMF expects the world economy to grow by 3.2% in 2024, but warns of risks from geopolitical tensions and trade protectionism. The IMF's updated forecasts reflect a more positive view on the UK economy while highlighting ongoing challenges in Europe.