According to the International Monetary Fund (IMF), the global economy is expected to experience a further slowdown in 2023, despite some signs of resilience and China’s reopening after the pandemic.
The IMF’s latest World Economic Outlook report predicts a 4.4% growth in global GDP for 2023, which is lower than the 4.9% forecasted in its previous report. The report cites factors such as rising inflation, supply chain disruptions, and geopolitical tensions as key contributors to the economic slowdown.
However, the report also notes that there are some positive signs of resilience, including the strong rebound in global trade and the accelerated adoption of digital technologies. The report also highlights China’s reopening after the pandemic as a positive development that could help boost global economic growth.
The IMF suggests that policymakers should focus on implementing measures that can address the current economic challenges while also supporting long-term growth. These measures could include investing in education and infrastructure, supporting small and medium-sized enterprises, and promoting international cooperation to address global challenges such as climate change.
Overall, the IMF’s latest report suggests that while the global economy is facing significant challenges, there are also opportunities for policymakers to implement measures that can support long-term growth and address the current economic challenges.
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