The IMF Expects 3% Contraction of the Global Economy In 2020

The IMF expects that the global economy will sharply contract in 2020
The IMF expects that the global economy will sharply contract in 2020
The IMF expects that the global economy will sharply contract in 2020

The IMF expects that the global economy will sharply contract in 2020 – by 3% as a result of the COVID-19 pandemic, which has already impacted severely economic activity around the globe. On a positive note, however, the IMF projects that the recession will be followed by a strong recovery – a global GDP growth rate of 5.8% in 2021.

The IMF expects that the global economy will sharply contract in 2020


The projections further show that advanced economies will suffer an average 6.1% contraction in 2020, while the drop in the emerging markets and developing economies will amount to 1%. The Euro Area economy will contract by 7.5% in 2020 and subsequently will grow by 4.7% in 2021.

In the US the estimated decline will be by 5.9% and the growth in 2021 – by 4.7%. According to the IMF, China’s economy will grow by a mere 1.2% in 2020 and will later accelerate in 9.2% in 2021.

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2020/04/20(月) - 11:28 The IMF Expects 3% Contraction of the Global Economy In 2020