Global Economic Development: Worsening forecasts

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2022. No. 9, pp. 3-11

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See all articles by Urmat Dzhunkeev

Urmat Dzhunkeev

Lomonosov Moscow State University

Yury Perevyshin

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Department of Economics

Pavel Trunin

Gaidar Institute for Economic Policy

Maria Chembulatova

Gaidar Institute for Economic Policy

Date Written: August 24, 2022

Abstract

In July, the IMF, the European Commission, and the Asian Development Bank updated
their previous world economic development forecasts. In the updated IMF forecast,
the global GDP growth rate for 2022 is reduced to 3.2% because of a slowdown in
the movement of that indicator in the largest G20 economies. At the same time, for a
number of G20 countries (Brazil, Indonesia, South Africa, and Russia) the projections
for 2022 have been improved due to rising prices for energy and some metals; and
in the case of Russia, also due to the effective measures designed to stabilize its
financial sector. The forecasts are also deteriorating in view of the monetary policy
tightening by the monetary authorities across a considerable majority of G20 countries in response to the acceleration of inflation.

Keywords: Global economy, G20, economic forecasts,

JEL Classification: E5, E51, E52

Suggested Citation

Dzhunkeev, Urmat and Perevyshin, Yury and Trunin, Pavel and Chembulatova, Maria, Global Economic Development: Worsening forecasts (August 24, 2022). Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2022. No. 9, pp. 3-11, Available at SSRN: https://ssrn.com/abstract=

Urmat Dzhunkeev

Lomonosov Moscow State University ( email )

GSP-2, Leninskie Gory
Moscow, 119992
Russia

Yury Perevyshin

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Department of Economics ( email )

Russia

Pavel Trunin (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Maria Chembulatova

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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