IMF predicts global economy to fall by 3%

According to the International Monetary Fund, the world economy will drop by 3% in 2020. This is the highest figure for, at least, the last 40 years. This is stated in the Review of World Economics presented by the IMF on April 14, Interfax-Ukraine reports.

A drop in the global economy will be the largest in the last few decades. Previously, the Fund forecast a global economic growth of 3.3%. Now, experts believe that if the coronavirus pandemic to be stopped in the H1 of 2020, then the world economy will be able to recover as early as 2021 showing 5.8% grow.

According to the latest IMF’s forecast, the U.S. economy will fall by 6.1% in 2020, the EU GDP fall by 7.1%, and the Russian economy shortage by 5.5%. For Ukraine, the IMF predicts a 7.7% fall in 2020 and an 3.6% increase in 2021.

Read also: IMF doubles aid to USD 100 bln to support countries amid coronavirus pandemic.