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Social and Economic Situation in G20 Countries: Outlooks are Getting Worse
[Социально-Экономическое Положение В Странах G20: Прогнозы Ухудшаются]

Author

Listed:
  • Urmat K. Dzhunkeev

    (Russian Presidential Academy of National Economy and Public Administration)

  • Yury N. Perevyshin

    (Russian Presidential Academy of National Economy and Public Administration)

  • Pavel V. Trunin

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Maria I. Chembulatova

    (Russian Presidential Academy of National Economy and Public Administration)

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.

Suggested Citation

  • Urmat K. Dzhunkeev & Yury N. Perevyshin & Pavel V. Trunin & Maria I. Chembulatova, 2022. "Social and Economic Situation in G20 Countries: Outlooks are Getting Worse [Социально-Экономическое Положение В Странах G20: Прогнозы Ухудшаются]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 10, pages 4-12, October.
    • Handle: RePEc:gai:recdev:r2281
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    More about this item

    Keywords

    world economy; growth rates; forecast; monetary policy; Moody’s Agency;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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