Global Economic Prospects, January 2022World Bank Publications, 01/01/2022 - 234 من الصفحات Although the global economy is emerging from the collapse triggered by COVID-19, the recovery is likely to be subdued, and global GDP is projected to remain well below its pre-pandemic trend for a prolonged period. Several risks cloud the outlook, including those related to the pandemic and to rapidly rising debt. The pandemic has further diminished already-weak growth prospects for the next decade. Decisive policy actions will be critical in raising the likelihood of better growth outcomes while warding off worse ones. Immediate priorities include supporting vulnerable groups and ensuring a prompt and widespread vaccination process to bring the pandemic under control. Although macroeconomic policy support will continue to be important, limited fiscal policy space amid high debt highlights the need for an ambitious reform agenda that bolsters growth prospects. To address many of these challenges, global cooperation will be key. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces. |
عبارات ومصطلحات مألوفة
advanced economies aggregate Asia between-country Brady Plan capita income central banks challenges China climate change commodity markets COVID-19 pandemic creditors database debt relief debt restructuring decline developing economies EMDEs disruptions downside risks EMDE regions EMDEs emerging market energy prices estimated Figure shows financial crises forecast horizon fragile and conflict-affected Framework global commodity prices global growth global recessions HIPC households impact inclusive development income inequality increase inflation expectations infrastructure International Monetary Fund investment Kose labor market Last observation LICs low-income countries macroeconomic market and developing market exchange rates monetary policy Ohnsorge oil prices Omicron variant outlook output Paris Club percent in 2022 percentage points policy support poverty pre-pandemic trend production projected rebound recovery reduce rising Sample includes shocks social Sub-Saharan Africa supply bottlenecks supply shocks surge tightening U.S. dollar vaccination vaccination rates vulnerable Washington within-country income inequality within-country inequality World Bank