Kristalina Georgiewa. Wikipedia/Homeless man, Athens, Greece. Photo credit: Jonathan Kho Ming Jun

IMF: Gloomy economic outlook for 2023

The new year 2023 begins without any hope of an economic recovery – on the contrary. Rather, all three important global economic areas, the US, EU and China, are weakening.

Published: January 4, 2023, 8:00 am


    Kristalina Georgiewa, head of the International Monetary Fund (IMF), is therefore warning of a tough year. She assumed that by 2023 “half of the EU countries will be in recession”. Globally it will be a third of all countries.

    Georgieva had already said at the beginning of December that the prospects for the world economy were becoming increasingly gloomy.

    The probability that growth will be below two percent in 2023 is increasing. She pointed to the continuing burdens of the war in Ukraine, which, among other things, has driven up energy prices. She said she was also concerned about the slowdown in the growth trend in China.

    The IMF will update its forecasts for the global economy in January. The IMF last lowered its estimate for 2023 in October.

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