Prospects for the global economy in 2023

Subject

Prospects for the global economy in 2023.

Significance

Global inflation is at a 40-year high, interest rates are rising at the fastest pace since the early 1980s, Chinese growth is slowing the most in decades and Europe’s energy sector is undergoing rapid structural change. The global economy will enter recession, led by European activity contracting, while the US economy teeters close to recession and China’s activity slows. Many emerging and developing economies face debt distress which could trigger broader crises.