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Ireland Global Economy: IMF lowers forecast for growth Minor

17:00  12 october  2021
17:00  12 october  2021 Source:   rp-online.de

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The International Monetary Fund (IMF) has reduced its prognosis for the growth of the global economy this year marginal by 0.1 percentage points to 5.9 percent.

Container über Container - Sinnbild der Weltwirtschaft. © - / quinatopix / ap / dpa container via container - symbol of the world economy.

For 2022, the IMF continues to expect growth of 4.9 percent, as in the previous prognosis of July, as the organization declared Tuesday.

Behind the low change in global growth forecast, however, hide significant downgrades for some countries, such as Chief Volkswirt Student Gita Gopinath. "The outlook for the poorer developing countries has diminished significantly," Gopinath wrote with a view to the economic consequences of the pandemic. The short-term prospects of industrialized countries would have worsened, among other things, for problems with global supply chains. The downgrades would be partly made up of better growth prospects of raw material exporters who benefited from higher prices.

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For Germany, the IMF corrected its forecast for this year by 0.5 percentage points downwards: Gross domestic product is expected to grow by 3.1 percent in 2021. For 2022, the IMF expects strong growth of 4.6 percent. The forecast for the Eurozone raised the IMF for 2021 by 0.4 percentage points to 5 percent - partly borne by greater expected growth in Italy and France.

The growth forecast for the US, the world's largest economy, lowered the IMF to 6 percent for this year, for 2022, he raised them slightly to 5.2 percent.

The IMF provides for a modest recovery of growth in Africa in 2021 and 2022 .
© Paul J. Richards by IMF, growth in Africa suffers low vaccination rate against CVIV-19 The International Monetary Fund (IMF ) provides for a more modest growth in Africa than in the rest of the world, in 2021 and 2022, the low vaccination rate against CVIV-19 on the continent explaining this delay. Growth for sub-Saharan Africa must be 3.7% in 2021 and 3.8% in 2022, "a welcome but relatively modest recovery", the institution in its forecasts published on Thursday.

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