The Social and Economic Situation In G20 Countries: Ooutlooks are getting worse

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2022, No. 10., pp. 3-10

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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: November 2, 2022

Abstract

Global economic growth rates keep slowing down with economic outlooks getting
worse. In August, Moody’s lowered projections of G20’s growth rates to 2.5% in
2022. By Moody’s estimates, the eurozone will be facing recession in 2023. The
factors affecting the economic situation include an energy price shock, tightening
of the monetary policy in developed countries, as well as a slowdown of China’s
growth rates. In August, nine out of 15 central banks of G20 countries which target
inflation held meetings on the monetary policy; the monetary regulators in the
UK, South Korea, Brazil, Indonesia, Mexico, Australia and India raised interest rates,
while Turkey and China cut them.

Keywords: Global economy, G20

JEL Classification: O52, P67, E61, F51, H53

Suggested Citation

Dzhunkeev, Urmat and Perevyshin, Yury and Trunin, Pavel and Chembulatova, Maria, The Social and Economic Situation In G20 Countries: Ooutlooks are getting worse (November 2, 2022). Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2022, No. 10., pp. 3-10, 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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