The IMF has worsened forecasts for the coming years

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The International Monetary Fund (IMF) has revised downwards its forecasts for the evolution of the world economy for the next two years. Among the reasons – the rapid growth of inflation and the resulting tightening of central bank policy, reports Euronews television channel .

At the same time, the IMF pointed out that raising base rates would certainly entail economic costs, but delaying this measure would be even worse.

Pierre-Olivier Gourinsha, Chief Economist of the IMF: “The global economy is still reeling from the pandemic and the Russian invasion of Ukraine. We now face a bleak and uncertain outlook. Global output growth was revised down to 3.2% this year and next, while inflation was revised up to 6.6% in advanced economies and 9, 5% in emerging and developing economies. The three largest economies in the world are the United States, China and Europe are stagnating.

The IMF does not rule out a new global recession next year, just two years after the previous one linked to the pandemic.

At the same time, the Russian GDP forecast has improved this year to -6% – and deteriorated next year to -3.5%. This corresponds to the most negative forecasts of Russian analysts.

Source: delfi

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