Macro - Weekly Briefings - Emerging Markets
Our 2022 outlook for emerging markets (EMs) has been cut further to reflect deep recessions in Russia and Ukraine and increased headwinds elsewhere. Our 2022 GDP growth forecast now stands at 3.7%, 0.9ppts below our baseline before Russia's invasion of Ukraine and the weakest growth rate since 2009 (excluding 2020). We have also lowered our projection for 2023 EM GDP by 0.1ppt to 4.4%.
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