The International Monetary Fund (IMF) has announced that the global economy affected by the coronavirus pandemic will recover faster than expected in January.
The IMF has raised its global growth forecast for 2021 by half a percentage point from 5.5 percent to 6.0 percent. The projected growth forecast for 2022 rose to 4.4 percent.
The IMF’s World Economic Outlook said the United States is expected to return to pre-pandemic levels this year, while the Chinese economy is recovering rapidly from the pandemic. was the first country where the virus appeared.
Following the crisis management of the United States and lagging behind Washington in the vaccination process, the Eurozone is expected to recover by mid-2022. According to the report, the growth forecast for Germany, Europe’s main economy, has been raised from 3.5 percent to 3.6 percent in 2021.
Growth forecast for Turkey
Emerging economies’ growth forecasts for this year have been raised from 6.3 percent to 6.7 percent, but the 5 percent forecast for 2022 has remained stable.
It was assessed as a change in the IMF’s growth forecasts for Turkey in 2021. Turkey’s economy is expected to grow by 1.8 percent in 2020, 6 percent this year, and 3.5 percent in 2022.
Turkey’s inflation forecast for this year is 13.6 percent; Although it has been announced as 11.8 percent for 2022, the unemployment rate is expected to be 12.4 percent this year and 11 percent next year.
Emphasis on justice in the distribution of vaccines
It is said that economic recovery will be rapid, especially in countries that are rapidly advancing in the vaccination process. IMF Chief Economist Gita Gopinath stressed that the lover is a way out of the crisis. Gopinath said a more effective recovery could be possible if some steps were taken faster, but that there could be a “longer crisis period” if the virus options did not affect vaccines.
IMF Chief Economist Gita Gopinath
Stating that the steps to be taken after the vaccination process are also important, Gopinath drew attention to the poorest countries, which have very few vaccines compared to other countries, and said that vaccines should be distributed fairly at the international level. Gopinath said that some countries will vaccinate the majority of the population by the summer months, and most countries, especially poor countries, will have to wait until the end of 2022.
The IMF chief economist said they expect an increase in income inequality, especially in developing countries.
rtr, AFP / SÖ, JD
© Deutsche Welle Turkish