International Monetary Fund (IMF) said 31 countries will enter the abyss recession economy.
In the World Economic Outlook (WEO) report, cited on Wednesday (12/10), the IMF explained that technically 31 of the 72 countries expected to experience a recession.
This is due to a contraction in real GDP that lasted at least two consecutive quarters. Some economists call it a technical recession.
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“It can be seen at some point during 2022-2023. There are about 43% of the economies in the country with quarterly data forecasts experiencing it (recession), which is 31 out of 72 countries, more than a third of world GDP. “, wrote the IMF.
When compared with the economic projections released by the IMF in July, this figure has increased significantly.
The IMF had previously explained that technically only about 15% of the world’s countries would fall into recession.
In addition, the IMF expects inflation in developing countries to rise by the end of this year, reaching as high as 9.9 percent.
Spikes in inflation in developed countries also have the potential to penetrate 7.2% by the end of 2022.
On another occasion, Jokowi said that the current global economic condition is fraught with uncertainty. Not only that, geopolitical confrontation and climate change have also put many countries at risk if they are not careful.
“With the current situation, any country can quickly be thrown off track if it is not careful and not vigilant in both monetary and fiscal management,” Jokowi told Investor Daily Summit on Tuesday (11/10).
(sk / bir)
