JOHANNESBURGWASHINGTON, Jan 30 Reuters The International Monetary Fund on Tuesday edged its forecast for global economic growth higher, upgrading the outlook for both the United States and China the world39;s two largest economies and citing fasterthanexpected easing of inflation.

The IMF39;s chief economist, PierreOlivier Gourinchas, said the global lender39;s updated World Economic Outlook showed that a soft landing was in sight, but overall growth and global trade still remained lower than the historical average.

The global economy continues to display remarkable resilience, with inflation declining steadily and growth holding up. The chance of a 39;soft landing39; has increased, Gourinchas told reporters in Johannesburg, adding, We are very far from a global recession scenario.

But he cautioned that the base of expansion was slow and risks remained, including geopolitical tensions in the Middle East and attacks in the Red Sea that could disrupt commodity prices and supply chains.

Delays in announced fiscal consolidation in what Gourinchas called the biggest global election year in history could boost economic activity but might also spur inflation, he added.

The IMF said the improved outlook was supported by stronger private and public spending despite tight monetary conditions, as well as increased labor force participation, mended supply chains and cheaper energy and commodity prices.

The IMF forecast global growth of 3.1 in 2024, up twotenths of a…