The IMF will lower growth expectations again
Rice explained that global economic growth is tending to slow and some countries are at risk of recession. He pointed out that the fund’s 3.6% growth forecast for this year is likely to be revised downwards in July.
The IMF spokesman’s statements came after the World Bank and the Organization for Economic Co-operation and Development (OECD) lowered their global economic growth forecasts for this year.
The World Bank in its report published on June 7 forecast global economic growth this year from 4.1% to 2% due to the impact of the COVID-19 outbreak and Russia – Ukraine -War He lowered it to 0.9 and warned that the risk of stagflation was increasing.
The OECD also reduced its forecast for global economic growth, previously announced at 4.5%, to 3% in its report published yesterday.
In its World Economic Outlook Report, first published in January, the IMF lowered its forecast for global economic growth for 2022 from 4.9% to 4.4%.
In its latest report, published in April, the fund cut its global growth forecast for this year from 4.4 percent to 3.6 percent due to the impact of the Russia-Ukraine war.
The report states that the war in Ukraine has triggered a costly humanitarian crisis and that the economic damage caused by the conflict will contribute to a significant slowdown in global economic growth in 2022.
The IMF is expected to release its updated World Economic Outlook report in July.