World economy will grow no more than 2% in 2023-IMF Chief
2022.12.01 10:52
World economy will grow no more than 2% in 2023-IMF Chief
Budrigannews.com – On Thursday, Kristalina Gabrieva, director of the International Monetary Fund, said that due to the continuation of the war in Ukraine, as well as the slowdown in economic growth in Europe, China and the United States, it is more likely that global economic growth will be below 2 percent in the near future.
Georgieva said at the NEXT conference that she was particularly concerned about the slowdown in China’s growth, since the second world economy was a strong engine of global economic growth.
She said that “in recent years, the picture has been clouded based on what we see in the settings of consumers and in the settings of investors,” and the IMF will update its forecast of economic development in early January.
In October, the IMF lowered its forecast for global growth in 2023 to 2.7, compared with 2.9 in July. This caused the pressure of the war on Ukraine, high prices for energy resources and products, inflation, and a sharp increase in interest rates. The IMF said that the situation in the coming year could be much worse than last year.
At that time, the IMF predicted a 25 percent probability of a decline in the global economy and a 25 percent probability of a decline in global growth in the coming year, which was only 5 times in 1970.
Georgieva on Thursday said: “We are worried that the probability of this probability may increase slightly.” She said that Russia’s “senseless war” in Ukraine is affecting the European economy, and has also slowed down the growth rates of China, Europe, and the United States.
