January 31, 2022/Coronation Research

The IMF’s latest World Economic Outlook (WEO) has left its global forecast for 2021 unchanged at 5.9% y/y and has trimmed its projection for this year from 4.9% y/y to 4.4% y/y. Meanwhile, the global economy is expected to grow by 3.8% y/y in 2023.

We note that there were significant reductions in the 2022 forecasts for two of the largest economies, US and China. According to the WEO, the emergence of new COVID-19 variants could prolong the pandemic and induce renewed economic disruptions still pose as risks to global growth.

For the full economic note, please click here.