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The International Monetary Fund raises its forecast for global economic growth in 2022 to 4.9%
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The International Monetary Fund raised its forecast for global economic growth next year by 0.5% to 4.9%, compared to 4.4% in previous forecasts.
The Fund singled out the Saudi economy, with updated forecasts, which included expectations of growth of 2.4% in 2021, a decrease of 0.5% from the expectations of April, and that the growth of its economy would double in 2002 to 4.8%, an increase of 0.8% from the expectations of April.
At the level of the Middle East and Central Asia, the Fund expected the region's economy as a whole to grow by 4% in 2021, an increase of 0.3% from April's forecast, and to grow by 3.7% in 2022.
According to the IMF's World Economic Outlook report, the report maintained its vision of the global economic growth rate for the current year at 6%, which is the same rate that the Fund expected in its April report.
The fund attributed the 0.5% increase in growth forecast for the general economy next year largely to the expected additional fiscal support in the United States, with associated repercussions for the global economy.
Factors shaping the future of the global economy
The IMF report noted that the epidemic has taken a turn for the worse in some parts of the world since its April report, while the rapid rollout of a vaccine has helped reduce the number of cases rapidly in other regions. Economies diverge further, affected by differences in the pace of vaccine rollout and policy support. However; A smooth and lasting recovery is not guaranteed even in places where the infection appears to be under control.
Although 35% of the population in advanced economies received two doses of the vaccine; The share of vaccination in low-income countries represents less than half of that, and access to vaccines is the main line of defense on the road to global recovery, which we can see in two parts, the first of which is the return of economic activity to normal later this year, which may be in almost all advanced economies And the second section is those who are still dealing with the possibility of a re-emergence of infection and a high number of deaths due to the Corona virus, represented by the regions of southern Africa, which are now in the grip of the third wave, as well as parts of Latin America that are experiencing high levels of deaths with continuing fears in parts From South and Southeast Asia due to outbreaks of the Corona virus epidemic, according to the report.
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