
The IMF projects that global GDP will decline by nearly 5% this year
The IMF believes that the social gap policy because of Covid-19 will cause US GDP to decrease by 8% and China to grow only 1% in 2020. In the recently released World Economic Outlook Update, the International Monetary Fund (IMF) continues to lower its global growth forecast. This year, global GDP could drop by 4.9% - stronger than the rate in its April report (-3%).