Global economic, political policy climate deteriorates: survey

BERLIN, March 24 (Xinhua) -- The global political and economic policy climate deteriorated in the first quarter (Q1) of 2022, according to a survey of economic experts published by the German think tank ifo Institute on Thursday.

The COVID-19 pandemic "regained momentum in many countries through the Omicron variant and led to significant restrictions on economic activity," according to the institute. The Russia-Ukraine crisis also had a major effect.

Assessments per country "vary widely," according to the quarterly survey conducted by ifo and the Swiss Economic Policy Institute among 1,603 economic experts from 132 countries in the second half of February.

Northern, western and southern Europe have experienced a slight improvement compared with the previous quarter, according to the survey. In eastern Europe, however, the political and economic situation has worsened.

The survey found a deteriorating political and economic climate in the countries of central and south America compared with the previous quarter, while a slight improvement was noted by experts in north America.

The results for Asia and Oceania were "similarly divided." Experts in central, eastern and southeastern Asia noted "positive economic policy developments," while those in southern Asia and Oceania had a "more negative perception."