Downward global trend of economy is a grave matter of concern
International Monitory Fund has warned about the decreasing global growth in the times to come. The IMF clearly says “For Many, 2023 Will Feel Like A Recession.”
Facing multiple blows, the world economy is deteriorating in its healthy shape. After the jolt by Corona Virus outbreak, there is now war in Ukraine which drives up food and energy prices while rising interest rates and soaring costs. The situation conspicuously threatens to reverberate across the world.
The fear out of the IMF alert shows the possibility of a shaky contraction the world is heading to this year or next. The warning hints towards further slowdown of the global growth by next year.
The global financial agency clearly warns in these words: “This year’s shocks will re-open economic wounds that were only partially healed post-pandemic.” The statement was issued by IMF Economic Counsellor Pierre-Olivier Gourinchas where he analyzed the latest World Economic outlook of the fund
Significant are the words insinuating that more than a third of the global economy is moving towards the contraction.
But the good news is for the three biggest economies –America, European Union and China will continue to enjoy its status whereas this year in 2022 itself or the next year in 2023 most of the nations might suffer a financial jolt.
Gourinchas holds that “Still the worst has not arrived after which for many people the year to will feel like a recession.”
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