According to Kristalina Georgieva, International Monetary Fund Chief, 2023 will be a difficult year for the global economy because of the slowdown in the economies of the United States, China, and Europe.
IMF chief Kristalina Georgieva says that 2023 , going to be tough year for global economy as United States, China and Europe experience slowdown
She stated that the three major economies of the world —the US, the EU, and China—are slowing down at the same time, and it is anticipated that a third of the global economy will be in decline. For hundreds of millions of people, it would seem like a recession even in countries that are not experiencing one.
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China’s growth for the first time in 40 years, likely to be at par or below global growth
Further opined that China’s growth is expected to be at or below global growth for the first time in 40 years as 1.4 billion reel under Covid explosion since China opened up its economy. Also stated stated that due of the Covid explosion that has occurred since China opened up its economy, China’s growth is predicted to be at or below the rate of world growth for the first time in 40 years.
The IMF decreased its forecast for global economic growth in 2023 in October, taking inflation and the ongoing conflict in Ukraine into account.
About IMF
190 nations make up the IMF, an international organisation. They cooperate in an effort to stabilise the world economy. Being a system for early economic warning is one of its most important functions.
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