Forecasts of the International Monetary Fund for the situation in the global economy deteriorate, the risks of recession in 2023 became higher, said the head of the IMF Kristalin Georgieva.
“The prospects from the time of our last update in April have worsened significantly. … It will be a difficult year 2022, but perhaps it would be even more difficult than 2023,” Georgieva said, indicating that the risks of recession increased next year.
According to Georgieva, in the near future the IMF will lower its forecast for the growth of the global economy for this year: in April it was at the level of 3.6%, in January – 4.4%, this will be the third change in the forecast in 2022 . According to the results of last year, the world economy increased by 6.1%. The publication of the next forecast for the 2022th is scheduled for the end of July.
Among the reasons for the potential global fall in Georgiev’s economic growth, it called the general spread of inflation, a more significant increase in interest rates, a slowdown in the economic growth of China and Russia, escalation and sanctions related to the war in Ukraine.