World macroeconomic outlook (August 2022)


The world economy is dangerously close to stagnation or recession. The GDP growth rates are declining in both developed and developing countries	In most developed and developing countries inflation is taking on dangerous proportions and leads to harsh measures to reduce the price growth


The growth of key rates of the US Federal Reserve, the ECB and the Bank of England reduces the purchasing power of national currencies in developing countries	The geopolitical tensions around Ukraine and the mutual exchange of sanctions worsen the current state and prospects of the world economy


Central banks of developed countries and developing countries are raising key rates to combat inflation, which reduces the growth rate of the world GDP	The growth of coronavirus cases in the world, severe government measures in China and several other countries to combat the virus are slowing down business activity worldwide


Abnormal weather conditions in key centres of the world economy pose threats to the world GDP growth and world food security	The GDP growth rates are declining in the largest economies (the USA and China), which slows down the world GDP growth


Due to geopolitical tensions and international sanctions commodity markets have strong volatility