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Wednesday, February 8, 2023

IMF says global GDP will bottom out in 2023

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It should be remembered that the IMF has lowered its growth forecast up to three times since October 2021, although it may not do so again. “I don’t see a reduction now, but growth in 2023 will slow down,” the Bulgarian economist insisted.

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In the interview on Tuesday, the managing director of the IMF also spoke about the central banksand has explained that, in his opinion, have not yet reached the end of monetary policy tighteningas inflation is slowing down but is still “quite high”.

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“We have not reached that point yet,” Georgieva said, warning central bankers: “They must be careful not to take their foot off the brake too soon.” Her words are not accidental: she says it a week after inflation in the US reached its lowest level since October 2021, while inflation in the euro zone slows down.

Regarding China, which this Tuesday announced a GDP growth of 3% in 2022, Georgieva assured that they are contemplating an increase in Chinese GDP although it will not represent a part of world growth again.

“China’s growth rates they will not go back to the days when China generated about 40% of global growththis is not going to happen,” Georgieva stressed.

Source: Ambito

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