In the next 5 years, the world economy will reach the weakest figure in the last 30 years

According to the International Economic Group of Fars News Agency, quoted by Bloomberg News Agency, Kristalina Georgieva, the director of the International Monetary Fund, has described the expectations of the fund for the growth of the global economy in the next five years as the weakest in more than three decades.

Therefore, the International Monetary Fund has asked countries to avoid the economic gap caused by geopolitical tensions and take steps to increase productivity.

In a speech in Washington, Kristalina said: The International Monetary Fund expects the global economy to grow by about 3% in the next 5 years due to high interest rates, which is the lowest growth rate in the medium term since 1990 and less than the 5-year average of 3. 8% in the last two decades.

The head of the International Monetary Fund expects global gross domestic product to grow by less than 3 percent during 2023, which is in line with the fund’s January forecast, when it expected a growth rate of 2.9 percent.

Kristalina stressed that long-term trade disputes, including restrictions on immigration, capital flows and international cooperation, could reduce global gross domestic product by up to seven percent, equivalent to the combined annual output of Germany and Japan, and that halting technology trade could result in the loss of 12 percentage of GDP in some countries.

The International Monetary Fund expects nearly 90 percent of advanced economies to see growth decline in 2023 as tight monetary policy weighs on demand and dampens economic activity in the United States and the euro zone.

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