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According to the International Monetary Fund (IMF), global growth is forecast to slow further in 2023, with the IMF downgrading its forecasts as countries grapple with the fallout from Russia’s invasion of Ukraine, spiralling costs of living, and economic downturns as a result.
Several blows have been dealt to the world economy, including the war in Ukraine, rising food and energy prices following the Coronavirus outbreak, and rising interest rates.
In its report, the IMF trimmed its 2023 global GDP forecast to 2.7%, 0.2 points down from July expectations.
World overview by SABC Digital News
