IMF: global output losses over the past three years amounted to $3.7 trillion
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Global output lost $3.7 trillion between 2020 and 2023, said Kristalina Georgieva, head of the International Monetary Fund (IMF).
“Economic fragmentation threatens to further undermine growth prospects, especially for emerging and developing countries, including here in Africa,” she said at a speech in Ivory Coast, her words brought IMF press service.
Divergence (a widening gap between the levels of economic development of individual countries), according to Georgieva, is due to differences in “political space and macroeconomic frameworks” and depends on imports of fuel and food.
On July 25, the IMF raised its forecast for global GDP growth in 2023 by 0.2 percentage points to 3%. The forecast noted that economic activity is affected by central banks raising rates to combat inflation.
On October 5, the World Bank (WB) again improved its forecast for Russia’s GDP in 2023. According to analysts, the Russian economy will grow by 1.6% by the end of 2023. Annual inflation in 2023 is expected to be 5.6%, while price growth will accelerate by the end of the year due to the weakening of the ruble, according to the World Bank.
Earlier, Russian Finance Minister Anton Siluanov said that over the next three years the Russian economy will grow at a rate above 2% per year. On September 22, during a government meeting, Minister of Economic Development Maxim Reshetnikov said that Russian GDP growth in 2023 will be 2.8%, in 2024 – 2.3%.
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