Disastrous expectations for the global economy in 2023
For a large part of the global economy, 2023 is going to be this major turn of the end , the United States, Europe and all of these countries are vulnerable.
Rehab
The Director-General of the International Monetary Fund, Kristalina Georgieva, warned of the difficulties facing the global economy in 2023.
she said "For a large part of the global economy, 2023 is going to be this major turn of the end , the United States, Europe and all of these countries are vulnerable”.
The team notes that the three major economies - the United States and the European Union - are all slowing down simultaneously.
global economic recession
She explained that the year 2023 will be difficult for most of the global economy, as a third of the global economy is expected to enter a recession during the year.
She explained that "half of the European economies will enter into recession, and the increase in Covid infections in China represents worrying news for the global economy in the near term."
Emerging economies
She pointed out that the prospects for emerging economies are worse due to debt levels and the strength of the dollar.
IMF forecasts
It is noteworthy that the International Monetary Fund reduced its forecast for the growth of the global economy during 2023 by 0.2 percentage points to 2.7 percent, compared to a previous forecast last July of the growth of the global economy during 2023 by 2.9 percent.
The International Monetary Fund expected that 2023 would witness an economic recession that millions of people around the world would feel, and if we put aside the growth rates during the global crisis and the peak of the Corona pandemic, then the expected growth rate for 2023 is the weakest since 2001.
Estimates of global GDP growth for the current year 2022 remained unchanged at 3.2%, lower than the growth rate recorded in 2021, which amounted to 6%.
global economy
The report indicated that more than a third of the global economy will witness two consecutive quarters of economic contraction, while the world's major economies, the United States, the European Union and China, will continue to slow down.
The report stressed that the war in Ukraine continues to "strongly destabilize the global economy", as its effects caused an "acute" energy crisis in Europe, in addition to the devastation in Ukraine itself.
