The May 2022 edition of the Chief Economists Outlook comes out amid extremely high uncertainty about geopolitical developments, the trajectory of the global economy and the next steps for economic policy. Instead of entering a post-COVID recovery phase, economies are experiencing additional shocks, first and foremost from the war in Ukraine and associated geopolitical repercussions, but also from new outbreaks of COVID-19 and lockdowns in major industrial centres.

This edition of the Chief Economists Outlook explores the key forces driving the global outlook, including inflation and wage developments, food security, global integration, and the impact of sanctions on Russia and sets out core policy trade-offs. It draws on the collective views and individual perspectives of a group of leading Chief Economists, through the Forum’s Chief Economists Survey and consultations with the Chief Economists Community.

Report by the World Economic Forum