Insolvencies increase as government support ends

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<title>Insolvencies increase as government support ends</title>
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<namePart>Atradius Crédito y Caución S.A. de Seguros y Reaseguros</namePart>
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<publisher>Atradius Crédito y Caución S.A. de Seguros y Reaseguros</publisher>
<dateIssued>2022</dateIssued>
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<abstract displayLabel="Summary">In 2022, we expect the global economy to gradually emerge from the Covid pandemic, with restrictions unwound in most countries and regions. However, in economic growth terms we see that most gains from reopening economies have already been exploited. Moreover, supply chain bottlenecks, rising consumer demand and the war in Ukraine will weigh on growth as they increase price pressures. We do, however, expect that the global economy will remain a long way from recession territory. This is because Russia and Ukraine in themselves are not large enough economies to influence global growth (they represent less than 2% of global GDP). The main effect on global growth will be via higher commodities prices. We estimate global inflation in 2022 to be 6.1%. This is having a negative impact on consumers' purchasing power and on global GDP growth, which is expected to moderate to 3.4% in 2022, compared to 5.9% in 2021.</abstract>
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<topic>Crecimiento económico</topic>
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<topic>Cadena del suministro</topic>
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<topic>Precios</topic>
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<topic>Inflación</topic>
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<topic>Poder adquisitivo</topic>
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<topic>Insolvencia</topic>
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<title>Economic Research</title>
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