The deteriorating forecast for global GDP growth shows a slowdown in the three largest economies – the US, China and the Eurozone.
The International Monetary Fund (IMF) expects global GDP to increase by 3.2% this year and 2.9% in 2023. This follows from the IMF report released on Tuesday, July 26, on the prospects for the economic development of world.
At the same time, experts note that a significant slowdown in the growth of the economies of China and the United States leads to a slowdown in the growth of gross domestic product (GDP) worldwide.
Thus, the International Monetary Fund (IMF) lowered its forecast for global economic growth to 3.2% in 2022. Although in the previous forecast, in April, the IMF expected global economic growth of 3.6% for the year.
“Lower growth earlier this year, the decline in household purchasing power and the tightening of monetary policy led to a downward revision of 1.4 percentage points of US economic growth,” the IMF said in a report.
The main risks of a further slowdown in economic growth are the cessation of gas imports to the EU from Russia, the acceleration of inflation, the worsening of the debt crisis in developing countries, and the slowdown of trade due to geopolitical risks.
In this regard, the authors of the report consider “preventing inflation as a top priority for politicians.”
Recall that in May, the IMF announced the worst state of the global economy since World War II.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.