Global Economic Outlook 2022

From Pandemic Downturn to Growth Revival

Despite the setback from the emergence of the Delta variant in 2021, the global economy is still on course to expand by a robust 5.1 percent in 2021, and 2022 will likely bring another year of above-potential recovery growth. The main challenges to the global economy in the next decade come from a continued trend toward deglobalization and faster-than-expected inflation. The transition toward decarbonization of economies in response to climate change will create challenges and opportunities for global growth. Lessons learned about resilience in the face of disruption during the pandemic will become increasingly important in the decade ahead.