IMF: Global recession to be lower than expected

The global recession caused by the coronavirus pandemic will be lower than expected this year thanks to the sustainable activities in the second quarter in advanced economies and China, according to the International Monetary Fund's (IMF) latest economic forecast.

The IMF is counting on the lowering of the global GDP of 4.4%, that is, by 0.8% less than the June projection.

The new optimistic prognosis pertains to all areas except for the economies of developing countries.

The GDP of the United States, the world's leading economy, should drop by 4.3%, instead of 8% that was projected previously.

At the time that many countries, especially those in Europe, are struggling to control the spreading of coronavirus, the IMF has once again revised the tempo of the economic recovery, which, for 2021, is projected at 5.2%.

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IMF

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global recession

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