{"id":561429,"date":"2021-04-07T03:55:52","date_gmt":"2021-04-07T03:55:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/imf-more-upbeat-on-global-growth-says-covid-end-increasingly-visible\/"},"modified":"2021-04-07T03:55:52","modified_gmt":"2021-04-07T03:55:52","slug":"imf-more-upbeat-on-global-growth-says-covid-end-increasingly-visible","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/imf-more-upbeat-on-global-growth-says-covid-end-increasingly-visible\/","title":{"rendered":"IMF more upbeat on global growth, says covid-end \u201cincreasingly visible\u201d"},"content":{"rendered":"

<\/a> The IMF sees the global economy growing this year at a faster pace than previously <\/strong>expected<\/strong>, saying in its updated World Economic Outlook that it now expects global growth to come in at 6% \u2014 0.5 percentage points higher than the 5.5% growth it had penciled in three months ago<\/a> \u2014 and 4.4% in 2022. An end to the pandemic and the economic crisis is \u201cincreasingly visible,\u201d thanks to the global vaccination rollout, an overall adaptation to the ways of pandemic life, and large-scale stimulus measures around the world, said IMF chief economist Gita Gopinath. Tap \/ click here to read the full report (pdf).<\/a><\/strong><\/p>\n

In more ways than one, \u201cuneven\u201d is the overarching theme of the outlook:<\/strong> The report sees major economies \u2014 primarily the US and China \u2014 leading the pack in terms of economic growth this year. The US is on track to record higher GDP growth in 2021 than it did pre-covid, while China already achieved that milestone in 2020. Advanced economies are mostly expected to rebound to pre-covid growth in 2022 and many developing economies aren\u2019t expected to get to that point before \u201cwell into 2023,\u201d<\/strong> said Gopinath.<\/p>\n

And the divergence is not just between countries<\/strong> \u2014 the IMF sees disparities within individual countries. This includes a greater degree of job losses \u201cin those sectors with larger concentrations of younger or lower-skilled workers as well as in sectors more vulnerable to automation,\u201d particularly as the pandemic spurred the shift to digitalization.<\/p>\n

This is likely to lead to \u201csignificantly wider gaps in living standards,\u201d<\/strong> Gopinath said. 2020-22 per capita losses in emerging economies will be almost double that of advanced economies, while 95 mn people have been pushed into extreme poverty since the onset of covid, she noted.<\/p>\n

The antidote:<\/strong> \u201cAverting divergent outcomes will require, above all, resolving the health crisis everywhere. At the same time, economic policies will need to limit persistent damage, secure the recovery, and prepare for the post-COVID world, while being mindful of available policy space,\u201d Golpinath says.<\/p>\n

WHERE IS EGYPT IN ALL OF THIS?<\/strong> The IMF upgraded Egypt\u2019s growth projections for FY2021-2022 by 0.2 percentage points to 5.7%, up from its 5.5% growth forecast in January<\/a>. Output is expected to accelerate to 5.8% by FY2025-2026.<\/p>\n

Other Egypt figures:<\/strong> Egypt\u2019s current account deficit is expected to widen to 4% by the end of the currency fiscal year (from 3.1% in FY2019-2020) before narrowing again to 2.5% in FY2025-2026. The report also sees inflation accelerating to 6.3% in 2021 and 7.4% in 2022, up from 5.7% last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF sees the global economy growing this year at a faster pace than previously expected, saying in its updated World Economic Outlook that it now expects global growth to come in at 6% \u2014 0.5 percentage points higher than the 5.5% growth it had penciled in three months ago \u2014 and 4.4% in 2022. […]<\/p>\n","protected":false},"author":1,"featured_media":561430,"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":[107,104,72,272,273],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-covid-19","tag-economy","tag-enterpriseam","tag-imf","tag-world-economic-outlook","wpautop","entry"],"acf":{"mongo_id":"83398725-78cf-440c-ae45-be20ca82835e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/60.jpg","photo_position":"above","related_issue":[561425],"teaser":"","voice_url":""},"yoast_head":"\nIMF more upbeat on global growth, says covid-end \u201cincreasingly visible\u201d - 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\/2021\/04\/07\/imf-more-upbeat-on-global-growth-says-covid-end-increasingly-visible\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF more upbeat on global growth, says covid-end \u201cincreasingly visible\u201d\" \/>\n<meta property=\"og:description\" content=\"The IMF sees the global economy growing this year at a faster pace than previously expected, saying in its updated World Economic Outlook that it now expects global growth to come in at 6% \u2014 0.5 percentage points higher than the 5.5% growth it had penciled in three months ago \u2014 and 4.4% in 2022. 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The lender sees growth slowing to 3.8% in 2023, noting that, although this forecast is 0.2 percentage points higher than its\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\/1\/340.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":561429,"position":1},"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":575410,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/imf-warns-of-long-protracted-recovery-as-it-eases-global-recession-forecast\/","url_meta":{"origin":561429,"position":2},"title":"IMF warns of long, protracted recovery as it eases global recession forecast","author":"enterpriseam admin","date":"14 October 2020","format":false,"excerpt":"IMF warns of long, slow recovery as it eases global recession forecast: The International Monetary Fund (IMF) now sees the world\u2019s GDP contracting at a 4.4% pace \u2014 an improvement from the 4.9% it projected in its June outlook \u2014 after economies coming out of lockdown showed improved trade, retail\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572457,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/25\/imf-forecasts-deeper-recession-slower-recovery-as-virus-fears-linger\/","url_meta":{"origin":561429,"position":3},"title":"IMF forecasts deeper recession, slower recovery as virus fears linger","author":"enterpriseam admin","date":"25 June 2020","format":false,"excerpt":"YOUR DAILY DOSE OF GLOOM- IMF forecasts deeper global recession, slower recovery as virus fears linger: The global economy will suffer a deeper recession than previously expected as the pandemic continues to intensify in some parts of the world, and businesses and consumers continue to reel from the effects of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570803,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/15\/the-coronavirus-will-trigger-the-worst-global-recession-since-the-great-depression-in-mena-only-egypts-economy-will-grow-this-year-imf\/","url_meta":{"origin":561429,"position":4},"title":"The coronavirus will trigger the worst global recession since the Great Depression; in MENA, only Egypt\u2019s economy will grow this year \u2013IMF","author":"enterpriseam admin","date":"15 April 2020","format":false,"excerpt":"The coronavirus will trigger the worst global recession since the Great Depression, the IMF predicts: The world is facing its greatest economic crisis since the Great Depression as output plummets at a record pace in response to the \u201cGreat Lockdown\u201d put in place to contain covid-19, the IMF warned yesterday.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/138.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556338,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/20\/uneven-post-covid-recovery-threatens-mena-regions-imf\/","url_meta":{"origin":561429,"position":5},"title":"Uneven post-covid recovery threatens MENA regions \u2013IMF","author":"enterpriseam admin","date":"20 October 2021","format":false,"excerpt":"The post-covid recovery in Egypt and MENA continues to be \u201cuneven and incomplete\u201d despite progress made in the region since the start of the year and a slightly more optimistic growth outlook, the IMF said in an update to its Regional Economic Outlook for the Middle East and Central Asia.\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561429","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=561429"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561429\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561430"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561429"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561429"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}