Caixin
Apr 20, 2022 05:37 AM
ECONOMY

IMF Slashes Growth Outlook on Russia Invasion, China Lockdowns

China’s economy is expected to grow 4.4%, down from the prior 4.8% estimate.
China’s economy is expected to grow 4.4%, down from the prior 4.8% estimate.

(Bloomberg) — The International Monetary Fund slashed its world growth forecast by the most since the early months of the Covid-19 pandemic and projected even faster inflation after Russia invaded Ukraine and China renewed virus lockdowns.

Global expansion will slow to 3.6% in 2022, down from a forecast of 4.4% in January before the war, the IMF said in an update to its World Economic Outlook released Tuesday. That compares with 6.1% growth in 2021. The institution also lowered its growth projection for 2023 to 3.6% from a previous 3.8%.

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