IMF, economic forecasts will be worse

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"While revising our estimates for many of the countries downwards, we will make an upward revision for a small number of countries," said IMF President Georgieva.

IMF, economic forecasts will be worse

IMF, economic forecasts will be worse 1
IMF President Georgieva.

The International Monetary Fund (IMF) stated that their growth forecasts for country economies this month are worse than previous estimates, “While revising our estimates for many of the countries downwards, we will revise upwards for a few countries.” said.

Georgieva participated in the teleconference event on “The role of the IMF in financial stability and recovery in the period after the new type of coronavirus (COVID-19)” organized by the Bratislava-based think-tank organization GLOBSEC.

Stating that no crisis has been global like COVID-19 since World War II, Georgieva said that 170 economies, including European countries, will complete this year with lower per capita national income.

Georgieva noted that when the economy stopped suddenly, governments reminded that central banks were taking measures quickly, adding that there was a huge increase in liquidity and that the amount of financial measures amounted to $ 10 trillion.

Stating that they announced their expectations for the country’s economies in the World Economic Outlook Report published in April, Georgieva reminded that they predicted that the world economy will contract by 3 percent.

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“We will make our next estimates in June, and unfortunately it will be worse. We will revise our estimates for many of the countries downwards, while we will make an upward revision for a small number of countries,” Georgieva said. used the expression.

Having published the April 2020 issue of the World Economic Outlook Report with the title of “Great Isolation”, the IMF reduced its global economic growth forecast from 3.3 percent to minus 3 percent for this year, and the global economic growth forecast for the next year was 3.4 ‘. from 5.8 to.

The IMF is expected to announce its update on the World Economic Outlook Report on 24 June.

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