Russian Central Bank expects global economic growth to slow down

This year, global GDP growth will slow down, while the global economy will not return to pre-pandemic levels, the Central Bank of Russia believes. Its forecast for this year is 5.9% per annum, which is markedly higher than the estimates of foreign organizations. In particular, the International Monetary Fund forecasts global GDP growth in the period under review at 4.4%, which corresponds to the forecast of the World Bank. The OECD expects this indicator to be 4.5%. The slowdown, according to the Russian regulator, is caused by the fact that in a number of industries business events began to be held online, and this prevents their full recovery. This includes airlines, hotels, restaurants and related industries. The forecast of the Central Bank of Russia for the next year is 4.3%, the International Monetary Fund - 3.8%, the World Bank and the OECD - 3.6% and 3.2% respectively.