Social and Economic Situation in G20 Countries: Outlooks are Getting Worse

Социально-экономическое положение в странах G20: прогнозы ухудшаются

Urmat K. Dzhunkeev, Yury N. Perevyshin, Pavel Trunin and Maria I. Chembulatova
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Urmat K. Dzhunkeev: Russian Presidential Academy of National Economy and Public Administration
Yury N. Perevyshin: Russian Presidential Academy of National Economy and Public Administration
Maria I. Chembulatova: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2022, issue 10, 4-12

Abstract: Global economic growth rates keep slowing down with economic outlooks getting worse. In August, Moody’s lowered projections of G20’s growth rates to 2.5% in 2022. By Moody’s estimates, the Eurozone will be facing recession in 2023. The factors affecting the economic situation include an energy price shock, tightening of the monetary policy in developed countries, as well as a slowdown of China’s growth rates. In August, nine out of 15 central banks of G20 countries which target inflation held meetings on the monetary policy; the monetary regulators in the UK, South Korea, Brazil, Indonesia, Mexico, Australia and India raised interest rates, while Turkey and China cut them.

Keywords: world economy; growth rates; forecast; monetary policy; Moody’s Agency (search for similar items in EconPapers)
JEL-codes: C53 C54 E52 E58 (search for similar items in EconPapers)
Date: 2022
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