Because Of America And China, IMF 'Forced' To Correct 2022 Global Economic Growth

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JAKARTA - The International Monetary Fund (IMF) corrected the projected global economic growth to 4.4 percent for 2022. This level decreased by 0.5 percent compared to the World Economic Outlook (WEO) which was carried out in October 2021 with 5.9 percent.

"There is widespread moderation in the economies of developed countries such as the United States and the slowdown in China's economy is expected to have the potential to affect the economy going forward," the report was quoted as saying on Wednesday, January 26.

It stated that US economic growth is expected to decline from 5.6 percent in 2021, to 4.0 percent in 2022, and 2.6 percent in 2023. In the same period, China's projected growth is 8.1 percent, 4.8 percent and 5.2 percent.

The direction of normalization of monetary policy and continued supply disruptions are expected to be the main contributors to the slowdown in US economic growth. Meanwhile, the slowdown in the Chinese economy is estimated to be the impact of the disruption to the housing sector and the zero COVID-19 policy that affects mobility.

Meanwhile, growth in emerging markets will be spearheaded by India, which is projected to grow at 9.0 percent in 2021 and 9.0 percent in 2022, and then moderate to 7.1 percent in 2023.

"India's economic outlook is expected to improve as credit growth is expected to have a positive effect on investment and consumption levels."

Meanwhile, in the ASEAN-5 region, economic growth is estimated to be on an upward trend. In the period 2021-2023, Indonesia is predicted to grow strongly by 3.3 percent, 5.6 percent and 6.0 percent.

While Malaysia 3.5 percent, 5.7 percent, and 5.7 percent. In the same period, Thailand's GDP growth will be at 1.3 percent, 4.1 percent, 4.7 percent. Then the Philippines 4.6 percent, 6.3 percent, and 4.9 percent.