Template-type: ReDIF-Article 1.0
Author-Name: Urmat K. Dzhunkeev
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Author-Name: Yury N. Perevyshin
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Author-Name: Pavel V. Trunin
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Author-Name: Maria I. Chembulatova
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Title: Global Economic Development: Worsening Forecasts
Title: Развитие мировой экономики: ухудшение прогнозов
Abstract: In July, the IMF, the European Commission, and the Asian Development Bank updated their previous world economic development forecasts. In the updated IMF forecast, the global GDP growth rate for 2022 is reduced to 3.2% because of a slowdown in the movement of that indicator in the largest G20 economies. At the same time, for a number of G20 countries (Brazil, Indonesia, South Africa, and Russia) the projections for 2022 have been improved due to rising prices for energy and some metals; and in the case of Russia, also due to the effective measures designed to stabilize its financial sector. The forecasts are also deteriorating in view of the monetary policy tightening by the monetary authorities across a considerable majority of G20 countries in response to the acceleration of inflation.
Keywords: world economy, growth rates, forecast, monetary policy, IMF, European Commission, Asian Development Bank
Classification-JEL: C53, C54, E52, E58
Journal: Russian Economic Developments
Year: 2022
Issue: 9
Month: September
Pages: 4-14
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r2273.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r2273