Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Forecast of global economic growth
Economy

Global economic growth forecast by World Bank experts

17.04.2022
2 min read

How the market is recovering: the global economic market forecast

After the global economy fell during the pandemic, countries began to recover intensively. As a result, demand rose to record levels that not all segments could cope with. Analysts at the World Bank have put together a forecast of global economic growth. They suggest there will be a powerful rebound in the market, the maximum in 80 years. The main drivers will be the US and China, while Russia’s GDP will grow much less than forecasted in advance. However, there is no time to bounce back as the global market may face another crisis in 2025.
During the pandemic, entire industries stagnated, and experts initially warned that we should expect a financial crisis in 2008. In reality, however, the situation turned out to be even more serious – the economy sagged to the levels seen during the Great Depression.
According to the World Bank, in 2020 GDP fell by 3.5%, and the UN says about 4.3%. The countries that have suffered the most from the crisis are those that have been shut down for months at a time of full lockdown.
Despite initial pessimistic forecasts, Russia coped with the difficulties, but the consequences of the crisis are still being felt. The economy was saved by the fact that the pandemic began when the inflation rate in the country was relatively low, as well as the unemployment rate. In addition, the banking sector was developing quite steadily and was provided with a significant reserve of financial assets.Forecast of global economic growth-2The crisis has caused the global economy to lose $3.5 trillion. This figure is 2 times higher than the losses that were recorded during the 2008 crisis. By the end of 2021 the losses exceeded 7 trillion dollars, which is the total annual budget of the U.S. and China.
However, after the sharp market decline came an intense recovery, last year global GDP increased by 5.6%. The main role in this was played by the vaccination program, which took place en masse in most developed countries. In addition, a number of countries showed record economic activity, with China, the U.S. and India leading in this category.
As for the poor countries, the situation here is not so bright – the pandemic has exacerbated the problems that were observed before. The fight against the pandemic has increased food shortages and unemployment.
Experts predict that by the end of this year Russia will reach pre-crisis indicators. GDP growth will be 3.2%, for comparison – in 2019 it was 2.8%.
Analysts believe the main drivers of economic recovery are an increase in demand on the domestic market and the rise in world energy prices. However, slow and inefficient vaccination can slow down the pace of development.

Tags: Economy
0
Previous Post Startup Neuralink received a record $205 million in funding Next Post What is a callable bond and its advantages

You Might Also Like

battery manufacturing
Economy
The U.S. intends to increase the production of batteries for electric vehicles
25.12.2022
the annual report of the Central Bank
Economy
Annual report of the Central Bank: state of reserves and forecast for the future
16.07.2020
India's GDP growth
Economy
India’s GDP growth reached a minimum: reasons for the country’s economic slowdown
09.09.2020
The Georgian Central Bank introduces regulation of the cryptocurrency market
Economy
National Bank of Georgia develops regulation of cryptocurrency market
25.07.2022
investment in saving the planet
Economy
EU urges private companies to invest in saving the planet
23.03.2022
India's economy
Economy
How the Indian economy is developing: an overview of the current situation and prospects
10.08.2022

Recent Posts

  • 1investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 2Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023
  • 3mobile marketing
    How mobile marketing helps to retain existing customers and attract new ones
    16.09.2023
  • 4E-commerce company Rakuten
    Japan’s Rakuten intends to raise funds by issuing shares
    14.09.2023
  • 5coal mining
    Coal mining in India has increased by more than 22% in 5 years
    12.09.2023

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

Forex drawdown
Forex drawdown and why you shouldn’t be afraid of it
22.09.2023
investment in Turkey's steel industry
Yıldız increases investment in the Turkish steel industry
20.09.2023
Abu Dhabi Exchange
The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
18.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Bitcoin Lightning Network now available for cross-border transactions
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics