The International Monetary Fund said in a report on Tuesday that it revised its forecast for global economic growth in 2021 by 0.1 percentage point to 5.9 percent and lowered its growth forecast for the United States by one percentage point to 6 percent.
Overall, the fund expects that the global economy will handle the downturn caused by the coronavirus pandemic this year slightly worse than projected in the IMF’s June report. He also believes that “the stratification of economic prospects remains a serious concern”, which would be much better for rich countries and give them a chance to recover faster after the crisis.
The economic slowdown in poor countries due to the spread of the delta virus will pose a “grave danger” to the deterioration of living conditions.
The Eurozone economy is expected to grow by 5%; Previously, it was expected to reach 4.6%. The International Monetary Fund stated in a report published in connection with the beginning of the fund’s autumn session, that the better expectations of the monetary union countries are one of the derivatives of faster economic growth in France and Italy.
In China, economic growth will reach 8% this year. – 0.1 percentage point lower than the International Monetary Fund forecast in June. Great Britain’s GDP growth will also be weaker – it will reach 6.8%, by 0.1 percentage point. Less than the previous forecast indicated.
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In the eurozone, Germany will do worse than expected – 3.1% (0.5 percentage point lower), but the outlook for France is better – GDP growth there is expected to reach 6.3%. (0.5 percentage point more than the June forecast) and Italy – 5.8%. (+0.9 percentage point).
The International Monetary Fund expects other advanced economies to return to pre-pandemic economic growth in mid-2022.
