The world’s global economic growth is at its lowest level in decades, Kristalina Georgieva said.
The continuation of global economic growth has slowed significantly. The main reason is the shock of Russia’s war against Ukraine. IMF Managing Director Kristalina Georgieva said this at the 43rd Summit of Leaders of the Association of Southeast Asian Nations (ASEAN), according to the Fund’s website on Tuesday, September 5.
“Following a strong growth (of the global economy – ed.), which reached more than 6% in 2021, the recovery has slowed down significantly, mainly due to the shock of the Russian war in Ukraine. about 3% on average term. This is the lowest growth rate in a decade in an inflationary environment where interest rates are expected to remain higher for longer and in the context of growing risks of fragmentation,” he said.
Georgieva noted that the global economy has shown resilience to a range of negative shocks – the pandemic, war, climate change and the cost of living crisis – and its recovery from shocks continues.
“Among the major economies, only the US has fully recovered. The Eurozone is still 2% below trend, while China and other emerging markets are around 5% below trend, and low-income countries are more affected,” he said. .
Earlier, the IMF improved its global economic growth forecast for 2023 by 0.2 percentage points. – up to 3%. At the time, the fund noted that such growth was weak by historical standards.
Remember, according to the IMF forecast, in 2023 inflation in Ukraine will decrease to 15.5%, while real income will increase by 1%.
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Source: korrespondent
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