Social and Economic Situation in G20 Countries: Outlooks are Getting Worse

Urmat K. Dzhunkeev – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yury N. Perevyshin – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences, Associate Professor (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Pavel V. Trunin – Head of Center for Macroeconomics and Finance of the Gaidar Institute for Economic Policy; Director of Center for Central Banks Studies of the Russian Presidential Academy of National Economy and Public Administration, Doctor of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Maria I. Chembulatova – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Global economic growth rates keep slowing down with economic outlooks getting worse. In August, Moody’s lowered projections of G20’s growth rates to 2.5% in 2022. By Moody’s estimates, the Eurozone will be facing recession in 2023. The factors affecting the economic situation include an energy price shock, tightening of the monetary policy in developed countries, as well as a slowdown of China’s growth rates. In August, nine out of 15 central banks of G20 countries which target inflation held meetings on the monetary policy; the monetary regulators in the UK, South Korea, Brazil, Indonesia, Mexico, Australia and India raised interest rates, while Turkey and China cut them.

Key words: world economy, growth rates, forecast, monetary policy, Moody’s Agency.

JEL-codes: C53, C54, E52, E58.