IMF Lowers Global GDP Forecasts

The IMF yesterday lowered its forecast for the World Economic Outlook (WEO). It expects the global economy to grow by 4.4% in 2022, down from 4.9% in last year’s October report, following a growth of 5.9% in 2021.

According to the report, growth was impacted by the COVID-19 pandemic, supply chain bottlenecks, and rising inflation.

The IMF, on the other hand, raised its global economic forecast for 2023 to 3.8% from 3.6% previously.

For Thailand, the IMF lowered its forecast for Thai economic growth from 4.5% previously to 4.1%.

The IMF forecasts growth of 4.0% for the US economy this year, down from the 5.2% previously expected. An important factor for growth will be the Fed’s monetary policy decisions.

In addition, the IMF forecasts economic growth of 4.8% for China this year, down from 5.6% last year, due to zero COVID policies and problems in the real estate sector.

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