{"id":542966,"date":"2022-01-26T03:49:52","date_gmt":"2022-01-26T03:49:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/"},"modified":"2022-01-26T03:49:52","modified_gmt":"2022-01-26T03:49:52","slug":"egypt-bucks-the-trend-as-imf-downgrades-global-growth","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/","title":{"rendered":"Egypt bucks the trend as IMF downgrades global growth"},"content":{"rendered":"

<\/a> The IMF downgraded its projection for global growth in 2022 to 4.4% in its World <\/strong>Economic Outlook update<\/strong>, down 0.5 percentage points from its last outlook report in October<\/a>. The lender sees growth slowing to 3.8% in 2023, noting that, although this forecast is 0.2 percentage points higher than its previous expectation for next year, it \u201clargely reflects a mechanical pickup after current drags dissipate in the second half of 2022.\u201d Tap \/ click here to read the full report (pdf)<\/a>.<\/p>\n

Bringing 2021 problems into 2022:<\/strong> The IMF points to the pandemic\u2019s \u201ccontinued grip,\u201d persistent supply chain disruptions, rising inflation, and tightening monetary conditions across the world as the factors that came together to put the global economy \u201cin a weaker position than anticipated\u201d at the beginning of 2022.<\/p>\n

Egypt bucks the trend:<\/strong> The IMF has revised upwards its growth forecast for Egypt to 5.6% in FY 2021-2022, from its 5.2% projection made in October. The Egyptian government is also expecting the economy to grow 5.6%<\/a>this year.<\/p>\n

We\u2019re yet to see official figures, but the initial signs look good:<\/strong> Preliminary figures announced by Planning Minister Hala El Said last year suggest that the economy grew by 9.8% in 1Q<\/a> \u2014 its quickest pace in two decades \u2014 and 6-7% in 2Q<\/a>, thanks to a strong base effect.<\/p>\n

The MENA region also got a slight upgrade:<\/strong> The Fund now expects the MENA economy to grow at a 4.3% clip in 2022, up from 4.1% in October.<\/p>\n

Globally, inflation is set to be reined in by 2023:<\/strong> Inflation \u201cis expected to remain elevated\u201d this year, hovering at around 3.9% in advanced economies and 5.9% in EMs and developing economies, before cooling down next year as supply chain disruptions are resolved and tightening monetary policy reins in price increases.<\/p>\n

But US tightening poses risk for EMs: <\/strong>The report points to potential pressure on emerging market currencies and more expensive debt leading to \u201cchallenging monetary and fiscal policy trade-offs\u201d as the US Federal Reserve prepares to kick off its monetary tightening cycle. Meanwhile, vaccine rollouts continue to lag in developing countries and emerging markets, which is weighing on global growth recovery and allowing new variants of the virus to emerge, the report notes.<\/p>\n

Downwards revisions in major economies weigh heaviest:<\/strong> The report sees major economies \u2014 the US, China, Canada, the UK, and the eurozone \u2014 clocking in lower growth this year and dragging down the forecast for overall global economic performance.<\/p>\n

The downturn is likely to be front-loaded in 2022, with the first quarter of the year expected to see the bulk of the negative impact<\/strong>, the report suggests. This impact \u201cis expected to fade\u201d in 2Q2022, the report says.<\/p>\n

This is all assuming we don\u2019t see another covid wave:<\/strong> The forecasts are based on the assumption that severe illness, hospitalization and death from the virus become more or less a thing of the past by the end of the year.<\/p>\n

Yes, 2023 growth will be higher than expected, but there\u2019s a but: <\/strong>The IMF says global output will grow faster than it previously anticipated next year, but notes that the upwards revision it penciled in is not enough to compensate for its 2022 downgrade. \u201cCumulative global growth over 2022 and 2023 is projected to be 0.3 percentage points lower than previously forecast,\u201d the report says.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF downgraded its projection for global growth in 2022 to 4.4% in its World Economic Outlook update, down 0.5 percentage points from its last outlook report in October. The lender sees growth slowing to 3.8% in 2023, noting that, although this forecast is 0.2 percentage points higher than its previous expectation for next year, […]<\/p>\n","protected":false},"author":1,"featured_media":542967,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[107,104,72,272,182,273],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-covid-19","tag-economy","tag-enterpriseam","tag-imf","tag-inflation","tag-world-economic-outlook","wpautop","entry"],"acf":{"mongo_id":"4e675696-18e3-408c-91de-5e3665a8d6bf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/340.jpg","photo_position":"above","related_issue":[542960],"teaser":"","voice_url":""},"yoast_head":"\nEgypt bucks the trend as IMF downgrades global growth - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt bucks the trend as IMF downgrades global growth\" \/>\n<meta property=\"og:description\" content=\"The IMF downgraded its projection for global growth in 2022 to 4.4% in its World Economic Outlook update, down 0.5 percentage points from its last outlook report in October. The lender sees growth slowing to 3.8% in 2023, noting that, although this forecast is 0.2 percentage points higher than its previous expectation for next year, […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-26T03:49:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/340.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt bucks the trend as IMF downgrades global growth\",\"datePublished\":\"2022-01-26T03:49:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\"},\"wordCount\":536,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/340.jpg?fit=%2C&ssl=1\",\"keywords\":[\"covid-19\",\"economy\",\"EnterpriseAM\",\"IMF\",\"inflation\",\"World Economic Outlook\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/egypt-bucks-the-trend-as-imf-downgrades-global-growth\/\",\"name\":\"Egypt bucks the trend as IMF downgrades global growth - 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In its updated World Economic Outlook (pdf) released yesterday, the Fund cut its 2022 forecast by 0.4 percentage points and now sees the global growth\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/281.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556144,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/13\/inequality-threatens-pandemic-recovery-imf-says-in-its-latest-global-outlook\/","url_meta":{"origin":542966,"position":2},"title":"Inequality threatens pandemic recovery, IMF says in its latest global outlook","author":"enterpriseam admin","date":"13 October 2021","format":false,"excerpt":"The global recovery is bruised, but not broken: The IMF slightly downgraded its projection for global growth in 2021 to 5.9% in its October World Economic Outlook report (pdf) \u2014 down a slim 0.1 percentage points from 6% in its last update in July. The international lender held its growth\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590804,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/26\/imf-sees-lower-growth-sharply-higher-inflation-in-egypt-next-year\/","url_meta":{"origin":542966,"position":3},"title":"IMF sees lower growth, sharply higher inflation in Egypt next year","author":"enterpriseam admin","date":"26 July 2023","format":false,"excerpt":"The Fund expects growth to slow to 3.7% this year","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1027.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607888,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/11\/imf-cuts-our-23-24-growth-outlook-amid-fx-crunch-mena-and-saudi-outlooks-also-trimmed\/","url_meta":{"origin":542966,"position":4},"title":"IMF cuts our 23-24 growth outlook amid FX crunch, MENA and Saudi outlooks also trimmed","author":"enterpriseam admin","date":"11 October 2023","format":false,"excerpt":"Saudi and MENA growth outlooks are also cut in the latest update to the World Economic Outlook","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/547.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550050,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/12\/price-pressures-likely-to-trigger-recession-next-year-imf\/","url_meta":{"origin":542966,"position":5},"title":"Price pressures likely to trigger recession next year -IMF","author":"enterpriseam admin","date":"12 October 2022","format":false,"excerpt":"The IMF expects more than a third of the global economy to contract \u201cthis year or next,\u201d it warns in its October World Economic Outlook (pdf) released yesterday. The Fund maintained its global GDP forecast of 3.2% for this year but is less optimistic about next year, when it expects\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/196.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542966"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542966\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542967"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542966"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542966"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}