INFOGRAPHIC: A snapshot of the

global economy in April 2022

Is Russia the new Iran as a result of
This month’s infographic looks at sanctions?
whether the world economy might
 Iran was a major exporter of
avoid an inflationary bust, if Russia is
oil in the 1970’s
at risk of becoming the new Iran and
 Following the 1979
considers the outlook in UK inflation.
revolution, output declined
by 4.8m barrels a day
Will the world economy avoid an  Precipitating a global energy
inflationary bust? crisis that tipped the world
into recession
US: 7 recessions in the last 50 years  1/3 Sanctions have
 Recessions between 1970’s subsequently taken a heavy
and 90’s were all preceded toll, with production a third
by a pick up in inflation and lower versus pre-revolution
interest rates. levels
 In March the US Federal
Reserve raised interest rates Pre-revolution Iran was a
amid signs of broadening similarly dominant oil
inflationary pressures. exporter to Russia today

What might happen this time?

Remember, the US economy is often
the biggest swing factor in
determining the outlook for the world
economy

Inflation, interest rates, recessions

Sunak looks to ease pressure on
squeezed UK consumer


This would be the highest rate of

inflation in at least four decades
 While measuring announced
by chancellor Rishi Sunak at
the Spring State may help to
take some of the sting out of
current inflationary
pressures, they fall short of
offsetting them completely