IMF improves forecast for global GDP growth in 2021 to 5.5%
The International Monetary Fund (IMF) improved its forecast for world GDP growth this year by 0.3 percentage points compared to its October estimates, according to the IMF's January report.
According to analysts of the fund, this year the growth rate of world GDP will be 5.5%, in the October forecast this figure was 5.2%. In 2022, the IMF expects 4.2% growth. Last year, according to the fund's analysts, the world economy declined by 3.5%, while in the fall, experts expected that by the end of 2020, global GDP would fall by 4.4%.
At the same time, the fund noted that crude oil prices will grow by more than 20% in this year. Oil prices are expected to grow by more than 20% against the lower base level of 2020 but still be much lower than the 2019-year level, the IMF said.
Prices for other commodities are also expected to increase, with the strongest growth anticipated in 2021 for metals prices, IMF experts said.