The IMF has lowered the forecast for the dynamics of the global economy

The International Monetary Fund in the report lowered its forecasts for global economic growth for 2022 and 2023 to 3.2% and 2.9%, respectively, and also lowered expectations for global economic performance.

The Fund’s report states: “The global economy, weakened by the epidemic, has been hit by several shocks: higher-than-expected inflation around the world, especially in the US and major European countries, resulting in tighter financial conditions, along with sharper-than-expected , the slowdown in the Chinese economy, in light of the COVID-19 outbreak and related shutdowns, further negative consequences of the war in Ukraine.”

The following are the highlights included in the IMF report:

The Fund has lowered its Eurozone GDP growth forecast for 2022 from 2.8% to 2.6%, and for 2023 from 2.3% to 1.2%.

The fund lowered its forecast for US GDP growth for 2022 from 3.7% to 2.3%, and for 2023 from 2.3% to 1%.

– The Fund improved its expectations of the Russian economy in 2022, as it expects a decline of 6% after previous expectations of 8.5%, and by the end of 2023 the economy is expected to decline by 3.5% instead of 2.3%. .

The fund lowered its GDP growth forecast for the Chinese economy for 2022 from 4.4% to 3.3%, and for 2023 from 5.1% to 4.6%.

– The Fund cut its global growth forecast from 3.6% to 3.2% for 2022 and from 3.6% to 2.9% for 2023.

The fund increased its inflation expectations by 0.9% to 8.3% in 2022 and to 5.7% in 2023.

Source: Prime

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