Growth will stem from three factors: first, the recovery from two slow years of low growth; second, the reduced impact of the Omicron variant and the high vaccination rate; and finally, world economic growth. All of these projections were made before the International Monetary Fund (IMF) slashed its global economic growth outlook for 2022 from the 4.9% it predicted in October 2021 to the 4.4% it forecast last month. No 1: High inflation rates. Inflation retards economic growth by reducing consumption. The IMF has lowered its forecast for US economic growth by 1.2% because the agency assumes the Fed will raise interest rates by 1% this year.

Source: Bangkok Post February 10, 2022 01:02 UTC