The International Monetary Fund (IMF) has downgraded its global growth forecast for this year as rising COVID-19 cases, supply chain disruptions, and higher inflation hamper economic recovery.
In its delayed World Economic Outlook report, published on Monday, the IMF said it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s figure being half a percentage point lower than previously estimated.
The revised outlook is led by growth markdowns in the world’s two largest economies — the US and China.
Edited by Jesus Chan
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