On January 25, 2022, the (IMF) published its World Economic Outlook.
Highlights:
According to the analysis, global economic Growth will be half a Percentage point lower than previously projected.
The rate of growth will slow from 5.9% in 2021 to 4.4 percent in 2022. In 2023, it will drop even lower to 3.8 percent.
According to the IMF, the reduction in global growth predictions is mostly due to the IMF’s assessment of economic prospects in China and the United States.
In the United States, the removal of Joe Biden’s Build Back Better strategy from the baseline, early withdrawal of monetary support, and supply constraints resulted in a 1.2 percentage point downward revision for growth in 2022.
Disruptions connected to China’s zero-Tolerance Covid policy and persistent financial hardship among property developers resulted in a 0.8 percentage point negative revision.