Feb 23, 2021
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IMF: incomes of EU residents will fall

The International Monetary Fund (IMF) predicted a fall in per capita income in the developing countries of the European Union.

A decrease in the indicator may be 3.8 percent compared to the pre-crisis forecast by 2022. At the same time, the indicators of the developed economies of the EU will decrease by 1.3 percent, according to the IMF.

This became known from the statement of the managing director of the organization, Kristalina Georgieva, who spoke at the parliamentary conference of the European Union.

“The road to recovery is highly uncertain and, more importantly, uneven,” she said during the hangout.

The fund predicts global growth for the current year at 5.5 percent and in the euro area – 4.2 percent. The uncertainty of recovery, according to Georgieva, is associated with the ongoing race between coronavirus and vaccines against it. She explained the unevenness by the difference in initial positions, economic structure and response potential. The global lockdown of 2020 could turn into a global inequality of the current year, the speaker added. In addition, the fund records “growing differences within countries in the form of the worst inequality.”

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