Korea's growth rate is expected to be 2.3%... IMF warns of a global recession

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The International Monetary Fund (IMF) has warned that the world economy could be on the verge of recession due to the Ukraine crisis and inflation.

At the same time, we lowered our forecast for global economic growth this year, and we also predicted that Korea would stay at 2.3%, down 0.2 percentage points from three months ago. 

Reporter Jeong Ban-seok reports.

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The International Monetary Fund (IMF)'s new forecast for global economic growth this year is 3.2%.

It was proposed to be 4.4% in January and 3.6% in April, and then again lowered, compared to last year's growth rate of 6.1%.

The US growth forecast for this year is 2.3%, a whopping 1.4 percentage points lower than the April forecast.

The International Monetary Fund (IMF) believes that the US recession may have already begun.

China is expected to grow by 3.3%, the lowest level in more than 40 years.

Korea's growth forecast for this year is 2.3%, down 0.2 percentage points for the first time in three months.

This is lower than the 2.6% suggested by the Korean government last month or the 2.7% presented by the Bank of Korea in May.

The growth forecast for next year is 2.1%, which is expected to be more difficult next year than this year.

The International Monetary Fund (IMF) has warned that a global economic slowdown could come due to high inflation in the US and Europe, the lockdown in China due to the COVID-19 outbreak, and the Ukraine crisis.

[Pierre-Olivier Gorinzas / Chief Economist of the IMF: The outlook has darkened significantly since April.

The world may soon be on the verge of a global recession.]

The IMF has advised that while monetary tightening costs money, a slow response to inflation could make the situation worse, making responding to inflation a top priority.