[International] More difficult than last year! IMF warns 1/3 of the world may experience recession this year

 

International Monetary Fund (IMF) President George Eva warned in an exclusive interview with CBS that, according to the IMF's assessment, by 2023, one-third of the world's economies will fall into recession. She also said that since the three major economies of the United States, the European Union and China are all expected to weaken their economies, 2023 may be a "more difficult" year than 2022. (Reported by Ye Baiyi)

 

2023 is only the beginning of the year, but the outlook for the global economy is not optimistic. In an exclusive interview with CBS's "Face the Nation" (Face the Nation) program on the 1st, Georgieva said that at the beginning of 2023, the world is still shrouded in the war between Russia and Ukraine, soaring prices, rising interest rates, and the spread of the new crown epidemic in China. Among the major uncertainties, these factors are impacting the global economy. Georgieva made it clear in the program that the IMF predicts that one-third of the world's economies will fall into recession this year, and half of the EU countries will fall into recession this year. Even in countries that are not in recession, for hundreds of millions of people, it feels like a recession.

 

Georgieva also said in response to the new crown epidemic in China that after China abandoned the strict epidemic prevention and control policy, the new crown pneumonia epidemic spread rapidly across China, and the Chinese economy is also facing a new wave of blows. Georgieva said that the next few months will be quite difficult for China, which will have a negative impact on the economic growth of China and the Asia-Pacific region, and will not be conducive to global economic growth.

 

The IMF estimated in October last year that the global economic growth this year may only be 2.7%, and China’s estimated growth rate is 4.4%. When the Economic Forum (WEF) updates its economic forecast, it is bound to further downgrade the global and Chinese economic outlook. (Information: cna1228) ☺

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