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Global economy may recover faster after the pandemic, - Deputy IMF chief

Source : 112 Ukraine

However, the economic recovery is incomplete and uneven, in most countries GDP indicators remain at the pre-crisis level
17:09, 21 March 2021

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The global economy is showing a faster recovery in growth than previously expected, but significant risks still remain, including new strains of coronavirus. This was stated by first deputy head of the International Monetary Fund (IMF) Geoffrey Okamoto, as the press service of the IMF reported.

“In January, we projected 2021 global growth at 5.5 percent, but prospects of a stronger recovery are emerging – because of additional fiscal stimulus, especially in the U.S., and the prospects of broader vaccination,” said Okamoto.

The IMF considers the economic recovery to be incomplete and uneven. In most countries, GDP indicators remain below pre-crisis levels.

The deputy head of the IMF also reported on signs of a growing gap between developed and emerging economies. The IMF predicts that total per capita income in emerging market economies and developing countries, excluding China, will be 22% lower in 2020-2022 "than it would have been if there had been no pandemic. This will put about 90 million people below the extreme poverty line since the start of the pandemic.

In January of this year, Ukraine recorded that its GDP decreased by 2.6-2.8%.

Related: EU urges Turkey to reverse decision to leave treaty on women's rights

In Ukraine this year the inflation rate will be about 7%. The rise in prices will be primarily caused by the situation in the world markets. This forecast was announced on the air of Ukraine 24 TV channel by president's adviser on economic issues Oleg Ustenko.

According to him, the Ukrainian economy, like the world one, is coming out of the crisis in 2021.

"Therefore, it is not surprising that we will observe a slight increase in inflation. According to the forecast of the state budget, this is about 7%," he said.

According to Oleg Ustenko, inflation will be primarily caused by external factors.

Related: 3,968 Ukrainians vaccinated against Covid-19 in 24 hours

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