The IMF warned that this year the global economy is expected to contract by 3% for the worst since the Great Depression

Financial News

Written by: Zhang Weilun

2020-04-14 21:56

New Coronary Pneumonia has a severe impact on the global economy. The International Monetary Fund (IMF) predicted in the "World Economic Outlook 2020" report that the global economy will contract by 3% this year, the worst economic recession since the Great Depression in the 1930s. .

However, the IMF expects that the global economy will rebound next year, with an economic growth rate of 5.8%. However, there are still uncertainties, and the chance that the final result will be far less than expected, and ultimately depends on the development of the epidemic.

The IMF also expects emerging and developing economies to contract by 1% this year. China and India are expected to record growth of more than 1%, while Russia, Brazil and Mexico will contract by more than 5%.

The IMF also expects that the US economy will contract by 5.9% this year and 4.7% next year; Hong Kong will contract 4.8% this year and 3.9% next year.

The IMF pointed out that the forecast is based on the epidemic situation in the second quarter of this year. It will reach its peak in most countries and will begin to subside in the second half of the year.

International Monetary Fund IMF US Economy Hong Kong Economy China Economy China Economic Data New Coronary Pneumonia