Bottom of economic growth will be reached this year-IMF
2023.01.17 11:18
Bottom of economic growth will be reached this year-IMF
By Ray Johnson
Budrigannews.com – Kristalina Georgieva, managing director of the International Monetary Fund, stated on Tuesday that global economic growth would likely reach its lowest point in 2023 despite the ongoing conflict in Ukraine and rising interest rates.
Georgieva confirmed the IMF’s prediction that global growth will slow to 2.7% this year, down from 3.2% last year, in a Davos panel discussion.
“We have received some positive news since the beginning of the year. Additionally, she stated, “We also expect growth to bottom out in 2023, kicking off the process in which we go up rather than down.”
According to Georgieva, the war between Russia and Ukraine, the crisis in the cost of living, and interest rates at levels not seen in decades were the three most significant obstacles. She added that the world must effectively manage the transition to increased supply security.
“The setting is: She continued, “It’s not great.”
