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The IMF explained what awaits the global economy

The IMF explained what awaits the global economy

Fund experts listed factors that could make a difference

The International Monetary Fund (IMF) has changed the estimate of the dynamics of world GDP in 2020. We are talking about this in the materials of the fund. It is expected that the global economy will shrink this year by 3%, but will grow by 5.8% in 2021.

As the IMF chief economist Gita Gopinath notes in the report, the economic crisis is likely to be the most serious since the Great Depression of the 1930s.

“Due to the coronavirus pandemic, the global economy will shrink sharply in 2020 — by 3%, which is much worse than during the financial crisis of 2008-2009. With this basic scenario, which assumes that the pandemic will end in the second half of 2020 and from efforts to containment can be gradually abandoned, the global economy will grow by 5.8% in 2021 as economic activity normalizes, “the report said.

In particular, it is predicted that the US economy in 2020 will fall by 5.9%, and by 2021 it will show an increase of 4.7%. In China, according to the IMF, this year there will be no recession, despite the global crisis, the economic growth will be 1.2%, and in the next 9.2%. In the euro area, a decline of 7.5% is expected in 2020 and an increase of 4.7% in 2021.

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