According to the information contained in the new report by the IMF’s World Economic Outlook, the world’s GDP at the end of 2010 could grow by 4,2% (January forecast reported 3.9% growth). With regard to this indicator for 2011, compared to January, it has not changed and remains at 4.3%. According to IMF chief economist Olivier Blanchard, a global recession has been avoided, so that a gradual recovery of world economy is present.
Due to the fact that the world economy recovers faster than planned, evaluation of losses of the global financial sector during the crisis was reduced by 533 billion dollars. Initially it was assumed that the cancellation of bank assets amount to about 2.8 trillion, however, economic recovery has reduced that figure to $ 2.28 trillion. Losses of the U.S. banking system decreased from 1.03 trillion to 885 billion dollars. The total score of bank loan losses decreased by 13%.
For developing countries, where the formation of the market only occurs, they have restored after the world crisis quicker. The highest rate of growth is in Asia, where they make up 8.7% in 2010. The highest recovery rate – China, India, Brazil and Mexico. The growth of Chinese economy in 2010 will amount to 10% and in 2011 – 9.9%. The Indian economy will grow in 2010 by 8.8% in 2011 – by 8,4%. Brazil show 5.5% growth in 2010 and 4,1% 0 in 2011, while Mexican GDP will grow by 4.2% in 2010 to 4.5% – in 2011.
The Russian economy will recover faster than expected. Specifically, in 2010 an increase of 4% instead of the planned 3.6% in January. GDP growth in 2011 somewhat slowed down to 3.3% (in January was a figure of 3.4%). However, qualitative growth of the Russian economy will be small – it has been forecasted before.
The U.S. economy compared to European and Japanese will develop more dynamically. In 2010 the U.S. GDP will grow by 3.1% in 2011 – 2.6%. Japan also will add to its GDP 1.9% in 2010, and in 2011 – 2.0%. As for the euro zone, where the pace of economic development leaves much to be desired, not exceeding in 2010 of 1%. Thus, the strongest European economy – German – to grow as a result in 2010 only 1,2%, and in 2011 – by 1.7%. Somewhat better position in the UK from outside the eurozone. They GDP in 2010 could grow by 1.3%, and in 2011 – even at 2.5%.
Source: abforex.ru
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