Global economic growth expected to be lower than last year Infection spreads impact IMF March 5 4:37
With the impact of the spread of the new coronavirus on the real economy widening, the International Monetary Fund expects the global economic growth rate to be even lower than last year's lowest of 2.9% in the last decade. Showed.
This was revealed by IMF Managing Director Georgieva in a joint meeting with the World Bank in Washington on Wednesday.
According to the report, the IMF has announced that the spread of the new coronavirus is expanding outside of China, and that movements to restrict people's movements and corporate activities are spreading in various countries. Said it was even below the 2.9% last year, which was the lowest in 10 years.
The IMF initially expected the growth rate of this year to be 3.3% higher than last year, but has just lowered it by 0.1 point in late February due to the spread of infection.
"The global economy has entered a tougher phase in the past week, and it has been difficult to predict how deep the impact will be," Georgieva emphasized.
He further stated that he would work with the World Bank to take urgent action if necessary, including financing countries with vulnerable healthcare systems, to prevent further spread.