Author
International Monetary Fund, issuing body, author.
Publication Date
2022
Publication Place
Washington, District of Colombia -
International Monetary Fund
Subject
Economic forecasting
Type
Book
Language
Arabic
Digital
Yes
Manuscript
No
Pages Count
4
Library
Wesleyan University Library
Library Asset ID
ISBN : 9798400221750
Record ID
alma9933025573703768
Library Location
See online access
Date
2022
Notes
Global economic activity is experiencing a broad-based and sharper-than-expected slowdown, with inflation higher than seen in several decades. The cost-of-living crisis, tightening financial conditions in most regions, Russia's invasion of Ukraine, and the lingering COVID-19 pandemic all weigh heavily on the outlook. Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic. Global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. Monetary policy should stay the course to restore price stability, and fiscal policy should aim to alleviate the cost-of-living pressures while maintaining a sufficiently tight stance aligned with monetary policy. Structural reforms can further support the fight against inflation by improving productivity and easing supply constraints, while multilateral cooperation is necessary for fast-tracking the green energy transition and preventing fragmentation.
Seri
World Economic Outlook ; 2022/002
