World Economic Outlook - International Monetary Fund

Description: Global growth is projected to rise from an estimated 2.9 percent in 2019 to 3.3 percent in 2020 and 3.4 percent for 2021—a downward revision of 0.1 ... About FACTSHEETS RESOURCES TOPICS IMFataGlance Surveillance Lending CapacityDevelopment IMFFactsheetsList IMFMembers IMFTimeline SeniorOfficials JobOpportunities ArchivesoftheIMF ClimateChange Fintech FiscalPolicies IncomeInequality AllTopics Research FlagshipPublications OtherPublications WorldEconomicOutlook GlobalFinancialStabilityReport FiscalMonitor ExternalSectorReport StaffDiscussionNotes WorkingPapers IMFResearchPerspectives EconomicReview GlobalHousingWatch CommodityPrices CommoditiesDataPortal IMFResearchers AnnualResearchConference OtherIMFEvents Countries IMFreportsandpublicationsbycountry RegionalOffices A B C D E F G H I J K L M N O P Q R S T U V Y Z IMFResidentRepresentativeOffices IMFRegionalReports IMFandEurope IMFMembers'QuotasandVotingPower,andBoardofGovernors IMFRegionalOfficeforAsiaandthePacific IMFCapacityDevelopmentOfficeinThailand(CDOT) IMFRegionalOfficeinCentralAmerica,Panama,andtheDominicanRepublic EasternCaribbeanCurrencyUnion(ECCU) IMFEuropeOfficeinParisandBrussels IMFOfficeinthePacificIslands CapacityDevelopment AboutUs WhatWeDo HowWeWork IMFTraining DigitalTrainingCatalog OnlineLearning OurPartners CountryStories TechnicalAssistanceCountryReports StrategyandPolicies News AllNews SeeAlso ForJournalists CountryFocus ChartoftheWeek Communiqués MissionConcludingStatements PressReleases Speeches StatementsatDonorMeetings Transcripts Views&Commentaries IMFBlog ArticleIVConsultations FinancialSectorAssessmentProgram(FSAP) Seminars,Conferences,&OtherEvents E-mailNotification PressCenter TheIMFPressCenterisapassword-protectedsiteforworkingjournalists. LoginorRegister Informationofinterest Videos AbouttheIMF Conferences Pressbriefings Speeches SpecialFeatures Africa Americas Asia Europe MiddleEastandCentralAsia EconomicOutlook Annualandspringmeetings CapacityDevelopment MostRecent MostPopular Data IMFFinances AdditionalDataSources WorldEconomicOutlookDatabases Database IMFeLibrary-Data InternationalFinancialStatistics G20DataGapsInitiative CurrencyCompositionofOfficialForeignExchangeReserves FinancialAccessSurvey Publications IMFeLibrary IMFBookstore IMFAnnualReport Finance&Development WorldEconomicOutlook GlobalFinancialStabilityReport FiscalMonitor ExternalSectorReport RegionalEconomicReports PolicyPapers StaffDiscussionNotes DepartmentalPapers AllStaffNotesSeries GlobalFinancialStabilityNotes SpilloverNotes How-ToNotes Advancedsearch COVID-19 PandemicPlan FinancialAssistance SpecialSeries COVID-19GlobalTargetsandProgressTracker IMF-WHOCOVID-19VaccineSupplyTracker IMF-WHOSubnationalCOVID-19VaccinationDashboard IMF-WHOCOVID-19VaccineSupplyForecastDashboard WorldEconomicOutlook IMFGlobalReportsavailableinanApp!Downloaditnow: ForiOSDevices ForAndroidDevices Publications WorldEconomicOutlook WorldEconomicOutlookUpdate,January2022 January25,2022 GlobalFinancialStabilityReport GlobalFinancialStabilityReport,October2021 October6,2021 FiscalMonitor FiscalMonitor,October2021 October7,2021 RegionalEconomicOutlook AsiaandPacificRegion Europe MiddleEastandCentralAsia Sub-SaharanAfrica WesternHemisphereRegion AnnualReportoftheExecutiveBoard BuildForwardBetter October4,2021 MorePublications WorldEconomicOutlook Emailnotificationsign-up Signuptoreceivefreee-mailnoticeswhennewseriesand/orcountryitemsarepostedontheIMFwebsite. Modifyyourprofile العربية español français 日本語 русский 中文 Indonesia português WorldEconomicOutlook ASurveybytheIMFstaffusuallypublishedtwiceayear.ItpresentsIMFstaffeconomists'analysesofglobaleconomicdevelopmentsduringthenearandmediumterm.Chaptersgiveanoverviewaswellasmoredetailedanalysisoftheworldeconomy;considerissuesaffectingindustrialcountries,developingcountries,andeconomiesintransitiontomarket;andaddresstopicsofpressingcurrentinterest.Annexes,boxes,charts,andanextensivestatisticalappendixaugmentthetext. Seealso,theWorldEconomicDatabases March21,2022 Page:1of9 1 2 3 4 5 6 7 8 9 2022 WorldEconomicOutlookUpdate,January2022:RisingCaseloads,ADisruptedRecovery,andHigherInflation January25,2022 Description: Globalgrowthisexpectedtomoderatefrom5.9in2021to4.4percentin2022—halfapercentagepointlowerfor2022thanintheOctoberWorldEconomicOutlook(WEO),largelyreflectingforecastmarkdownsinthetwolargesteconomies.ArevisedassumptionremovingtheBuildBackBetterfiscalpolicypackagefromthebaseline,earlierwithdrawalofmonetaryaccommodation,andcontinuedsupplyshortagesproducedadownward1.2percentage-pointsrevisionfortheUnitedStates.InChina,pandemic-induceddisruptionsrelatedtothezero-toleranceCOVID-19policyandprotractedfinancialstressamongpropertydevelopershaveinduceda0.8percentage-pointdowngrade.Globalgrowthisexpectedtoslowto3.8percentin2023. 2021 WorldEconomicOutlook,October2021:RecoveryDuringAPandemic October12,2021 Description: Thisreportshowsthattheglobaleconomicrecoverycontinuesamidaresurgingpandemicthatposesuniquepolicychallengesandrequiresstrongmultilateraleffort. WorldEconomicOutlookUpdate,July2021:FaultLinesWidenintheGlobalRecovery July27,2021 Description: Theglobaleconomyisprojectedtogrow6.0percentin2021and4.9percentin2022.The2021globalforecastisunchangedfromtheApril2021WEO,butwithoffsettingrevisions.Prospectsforemergingmarketanddevelopingeconomieshavebeenmarkeddownfor2021,especiallyforEmergingAsia.Bycontrast,theforecastforadvancedeconomiesisrevisedup.Theserevisionsreflectpandemicdevelopmentsandchangesinpolicysupport.The0.5percentage-pointupgradefor2022deriveslargelyfromtheforecastupgradeforadvancedeconomies,particularlytheUnitedStates,reflectingtheanticipatedlegislationofadditionalfiscalsupportinthesecondhalfof2021andimprovedhealthmetricsmorebroadlyacrossthegroup. WorldEconomicOutlook,April2021:ManagingDivergentRecoveries March23,2021 Description: Globalgrowthisprojectedat6%in2021,moderatingto4.4%in2022.Theprojectionsfor2021and2022arestrongerthanintheOctober2020WEO.Theupwardrevisionreflectsadditionalfiscalsupportinafewlargeeconomies,theanticipatedvaccine-poweredrecoveryinthesecondhalfof2021,andcontinuedadaptationofeconomicactivitytosubduedmobility.Highuncertaintysurroundsthisoutlook,relatedtothepathofthepandemic,theeffectivenessofpolicysupporttoprovideabridgetovaccine-powerednormalization,andtheevolutionoffinancialconditions. WorldEconomicOutlookUpdate,January2021:PolicySupportandVaccinesExpectedtoLiftActivity January20,2021 Description: Althoughrecentvaccineapprovalshaveraisedhopesofaturnaroundinthepandemiclaterthisyear,renewedwavesandnewvariantsofthevirusposeconcernsfortheoutlook.Amidexceptionaluncertainty,theglobaleconomyisprojectedtogrow5.5%in2021and4.2%in2022. 2020 WorldEconomicOutlook,October2020: ALongandDifficultAscent October7,2020 Description: TheglobaleconomyisclimbingoutfromthedepthstowhichithadplummetedduringtheGreatLockdowninApril.ButwiththeCOVID-19pandemiccontinuingtospread,manycountrieshaveslowedreopeningandsomearereinstatingpartiallockdownstoprotectsusceptiblepopulations.WhilerecoveryinChinahasbeenfasterthanexpected,theglobaleconomy’slongascentbacktopre-pandemiclevelsofactivityremainspronetosetbacks. WorldEconomicOutlookUpdate,June2020:ACrisisLikeNoOther,AnUncertainRecovery June24,2020 Description: Globalgrowthisprojectedat–4.9percentin2020,1.9percentagepointsbelowtheApril2020WorldEconomicOutlook(WEO)forecast.TheCOVID-19pandemichashadamorenegativeimpactonactivityinthefirsthalfof2020thananticipated,andtherecoveryisprojectedtobemoregradualthanpreviouslyforecast.In2021globalgrowthisprojectedat5.4percent.Overall,thiswouldleave2021GDPsome6½percentagepointslowerthaninthepre-COVID-19projectionsofJanuary2020.Theadverseimpactonlow-incomehouseholdsisparticularlyacute,imperilingthesignificantprogressmadeinreducingextremepovertyintheworldsincethe1990s. WorldEconomicOutlook,April2020:TheGreatLockdown April6,2020 Description: TheCOVID-19pandemicisinflictinghighandrisinghumancostsworldwide,andthenecessaryprotectionmeasuresareseverelyimpactingeconomicactivity.Asaresultofthepandemic,theglobaleconomyisprojectedtocontractsharplyby–3percentin2020,muchworsethanduringthe2008–09financialcrisis.Inabaselinescenario--whichassumesthatthepandemicfadesinthesecondhalfof2020andcontainmenteffortscanbegraduallyunwound—theglobaleconomyisprojectedtogrowby5.8percentin2021aseconomicactivitynormalizes,helpedbypolicysupport. WorldEconomicOutlookUpdate,January2020: TentativeStabilization,SluggishRecovery? January9,2020 Description: Globalgrowthisprojectedtorisefromanestimated2.9percentin2019to3.3percentin2020and3.4percentfor2021—adownwardrevisionof0.1percentagepointfor2019and2020and0.2for2021comparedtothoseintheOctoberWorldEconomicOutlook(WEO). 2019 WorldEconomicOutlook,October2019:GlobalManufacturingDownturn,RisingTradeBarriers October15,2019 Description: Afterslowingsharplyinthelastthreequartersof2018,thepaceofglobaleconomicactivityremainsweak.Momentuminmanufacturingactivity,inparticular,hasweakenedsubstantially,tolevelsnotseensincetheglobalfinancialcrisis.Risingtradeandgeopoliticaltensionshaveincreaseduncertaintyaboutthefutureoftheglobaltradingsystemandinternationalcooperationmoregenerally,takingatollonbusinessconfidence,investmentdecisions,andglobaltrade.Anotableshifttowardincreasedmonetarypolicyaccommodation—throughbothactionandcommunication—hascushionedtheimpactofthesetensionsonfinancialmarketsentimentandactivity,whileagenerallyresilientservicesectorhassupportedemploymentgrowth.Thatsaid,theoutlookremainsprecarious. Page:1of9 1 2 3 4 5 6 7 8 9