(Versions in عربي, 中文, Español, Français, Русский, 日本語)
The world economic recovery continues, but it has weakened further. In advanced countries, growth is now too low to make a substantial dent in unemployment. And in major emerging countries, growth that had been strong earlier has also decreased.
Let me give you a few numbers from our latest projections in the October World Economic Outlook released in Tokyo.
Relative to the IMF’s forecasts last April, our growth forecasts for 2013 have been revised down from 1.8% to 1.5% for advanced countries, and from 5.8% down to 5.6% for emerging and developing countries.
The downward revisions are widespread. They are however stronger for two sets of countries–for the members of the euro area, where we now expect growth close to zero in 2013, and for three of the large emerging market economies, China, India, and Brazil.
Filed under: Advanced Economies, Africa, Annual Meetings, Asia, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Finance, Financial Crisis, Fiscal policy, Fiscal Stimulus, Global Governance, growth, Inequality, International Monetary Fund, Investment, Latin America, LICs, Low-income countries, Middle East, Multilateral Cooperation, Politics, Public debt | Tagged: Brazil, central banks, China, emerging economies, euro, Europe, fiscal policy, forecast, India, Italy, Japan, monetary policy, Olivier Blanchard, recovery, revised down, Spain, United States, WEO | 7 Comments »
