IMF: growth remains the same, but differences are increasing | Financial

IMF: growth remains the same, but differences are increasing | Financial

That writes the International Monetary Fund (IMF) in an update of the World Economic Outlook, the semi-annual report on the state of the world economy. This shows that the world economy will grow by 6% this year, next year growth will drop slightly to 4.9%.

That 6% is no change from the previous expectation. But the IMF sees that the differences between countries have widened. The United States is in a real growth spurt this year, with an increase of 7%. A few months ago, 6.4% growth was expected.

The eurozone is also growing slightly faster this year, with 4.6% instead of 4.4%. A separate figure for the Dutch economy was not disclosed. Emerging countries, such as China and India, are growing less rapidly than the IMF had previously expected.

This is partly due to the speed with which vaccines are being developed in developed countries. About 40% of the population has already been vaccinated, compared to less than 20% in emerging countries. In low-income countries, the percentage is even lower.

The IMF warns that low vaccination coverage is also an economic risk. As a result, new virus variants can arise that are also dangerous for already vaccinated people. In that scenario, where there would be a virus that is 50% more contagious than the original variant, global growth in 2021 and 2020 would be more than 0.8 percentage points lower.

The fact that some countries are doing so much better is not only due to more vaccines, but also to government support measures. For example, US President Biden guided a $1,900 billion bailout package through Congress early this year.

All that support comes with a price. In 2020, the amount of government debt was almost as large as the global economy. Never before has it been this high, and the IMF does not expect a decline in the coming years.

DFT Daily

Every morning the most important financial news.

Invalid email address. Please fill in again.

Read our privacy policy here.

IMF: growth remains the same, but differences are increasing | Financial
Source link IMF: growth remains the same, but differences are increasing | Financial

News Related

OTHER NEWS

Brain surgeon Charlie Teo's wings clipped

Temporary restrictions have been placed on renowned neurosurgeon Charlie Teo’s medical licence after complaints about his work. The measures include a rule that Dr Teo – revered for his work ... Read more »

Famed brain surgeon Teo's wings clipped

Temporary restrictions have been placed upon renowned Sydney neurosurgeon Charlie Teo's medical licence after complaints about his work. The measures include a rule that Dr Teo obtains written support from ... Read more »

NSW police saw stabber hold uncle's throat

An accused murderer was holding his uncle around the throat from behind with a steak knife pointed directly between his eyes, the NSW Supreme Court has been told. A video ... Read more »

Boral's early earnings hit after FY profit

Boral has had a substantial hit to earnings from coronavirus restrictions early in the financial year, after a return to full-year profit. The building materials supplier on Tuesday said restrictions ... Read more »

National plan 'too dangerous' under Delta

New modelling has found at least 90 per cent of all Australians, including children, should be vaccinated against COVID-19 before the country can open up safely. The third wave, driven ... Read more »

Training MBO students generates money for society

The yield of every MBO student who obtains a basic qualification at level two is three times as high as the investment. This is apparent from research by Curio, a ... Read more »

UvA lecturer resigns over relaxation of corona rules in education

Students and teachers will soon no longer have to keep a distance of 1.5 meters from each other. The government does limit the number of students that may sit in ... Read more »

many students continue to cycle with a smartphone in their hand

Despite the rules, two out of three high school students still use their smartphone while cycling. This is apparent from research by Interpolis. While cycling, they take pictures and text ... Read more »

Orange tops international hockey awards: plenty of Dutch nominees | Other sports

In addition to the three players of Orange, national coach Alyson Annan has also been nominated for the title of coach of the year. She will compete against Sjoerd Marijne, ... Read more »

Every visitor to Formula 1 in Zandvoort has a grandstand seat: ‘Spreading in the stands' | Sport

“We use the RIVM guidelines outside the gate, but the 1.5 meter rule is no longer applicable on site. We do see a responsibility to inform all our guests as ... Read more »

FNV: University hospitals strike inevitable

The healthcare unions foresee a restless autumn with strikes at the academic hospitals. Today, FNV Zorg & Welzijn, FBZ, CNV Zorg & Welzijn and the LAD sent an ultimatum to ... Read more »

Mum says son looked 'evil' before homicide

The mother of an accused murderer screamed at police to “kick the door in and save my brother,” after her son was wielding a knife while looking evil and possessed, ... Read more »

extra detectives investigating student flat fire

The arson attacks appear to target rainbow flags in the flat. In the vicinity of the building there have been incidents targeting rainbow flags, according to the police. The local ... Read more »

WA's first space satellite to enter orbit

Researchers say the deployment of Western Australia's first homegrown spacecraft will position the state as a leader in Australian space exploration. Weighing in at 1.5kg and made up of 10cm ... Read more »

Stuntman fatally shot by 'live' gun on set

An illegally modified “live” shotgun loaded with “unlawful ammunition” was never test-fired before a stuntman was fatally shot on the set of a hip-hop music video, a Brisbane court has ... Read more »

COVID-19's impact on NSW: the numbers

THE COVID-19 OUTBREAK IN NSW: * New locally-acquired cases: 818 (down 12 on prior 24-hour period) * Cases with isolation status under investigation: 698 * In hotel quarantine: Zero * ... Read more »

Final bid to delay NT cop's murder trial

A Northern Territory policeman accused of murdering an Aboriginal teenager during an outback arrest will have to wait until an hour before his trial to learn if it will go ... Read more »

Victoria 'can still get on top of virus'

A COVID-19 outbreak in regional Victoria is feared to grow, with health workers forced to isolate and the cluster now linked to cases at a Melbourne hospital. Health Minister Martin ... Read more »

Vic protest 'most violent' in 20 years

An anti-lockdown protest held in Melbourne on Saturday was one of the most violent the city has seen in 20 years, Victoria's top police officer says. Chief Commissioner Shane Patton ... Read more »

Pacific calls to protect 'lucrative' kava

There is a push for traditional kava growing countries in the Pacific to ban the export of “beverage grade” plant cuttings after Australia was floated as a prospect for its ... Read more »

Groningen and Utrecht in goalless balance

The first half sometimes provided some entertainment, but that was far to be found in the sequel. The home team created more threat. For example, a slider by Suslov went ... Read more »

Hurricane Henri bears down on US

Parts of the Northeast of the United States are bracing for Hurricane Henri as the storm barrels toward the region. Forecasters said Henri was expected to remain at or near ... Read more »

Taliban's PR offensive falters

In the last few days, TV crews from Afghanistan's Al-Emarah Studio, which produces pro-Taliban multimedia content, have been out on the streets of Kabul speaking to residents with reassuring messages ... Read more »