IMF Cuts Global Economic Growth Forecast
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The International Monetary Fund warned that the global economy is entering 2022 in a weaker position than previously expected as it downgraded its global growth outlook largely due to clouds gathering over the recoveries in the United States and China.
The IMFâs latest World Economic Outlook calls for the global growth to downshift from 5.9 per cent in 2021 to 4.4 per cent this year.
The Fund saw the US economy growing 4.0 per cent this year while Chinaâs economy grew 4.8 per cent this year thanks to the countryâs business-sapping, zero-tolerance COVID-19 policy, and ongoing stress in its heavily indebted property sector.
The IMFâs latest World Economic Outlook calls for the global growth to downshift from 5.9 per cent in 2021 to 4.4 per cent this year.
The Fund saw the US economy growing 4.0 per cent this year while Chinaâs economy grew 4.8 per cent this year thanks to the countryâs business-sapping, zero-tolerance COVID-19 policy, and ongoing stress in its heavily indebted property sector.