The Latest Global Growth Forecast for Countries Around the World: The IMF's new economic forecast is gloomier than before.

Geopolitical Futures ^ | 10/20/2022

[SeekAndFind]

In its new report on the outlook for the global economy, the International Monetary Fund confirmed a slowdown for 2022 and was pessimistic about 2023. In identifying the causes of the gloomier forecast, the IMF highlighted Russia’s war in Ukraine, pandemic-related supply disruptions and high inflation expectations.

Stagnation, anxiety and rising prices are a recipe for social and political instability. Concern is especially focused on the European Union and whether the bloc can remain united as it confronts these challenges. In times of crisis, the incentives for zero-sum thinking will strengthen, and weak national leaders will be tempted to name scapegoats abroad.

[SeekAndFind]

nflation and uncertainty

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.

[MMusson]

Western Europe is sliding into an Energy induced DEPRESSION.

[hardspunned]

Notice the effect of the US sanctions (basically a declared world economic war) upon Russia. I’m not sure how much of the dismal US figures are to be attributed to our foot shooting Russian sanctions. Imagine when BRICS (including new member OPEC+) declares world economic war on the globalist west.

[citizen]

I am certainly no expert but generally look on any IMF/UN sort of data or forecast as slanted in favor of world governance and central bank control, etc., so that that their emphasis is always on big government rule while giving short shrift to the practicalities of efficient goods production, the burden of high taxation, the requirement for constant free & fair trade, etc.