International Monetary Fund Managing Director Kristalina Georgieva said Tuesday that global economic growth is expected to bottom out in 2023 despite the ongoing war in Ukraine and rising interest rates.
Speaking at a panel at the World Economic Forum in Davos, Georgieva reaffirmed an IMF projection that global growth will slow to 2.7% this year from around 3.2% last year.
“Since the beginning of the year we have seen some good news. We also expect growth to bottom out in 2023, to start the process where we go up instead of down.“, said.
Georgieva said that the three most important challenges are the war between Russia and Ukraine, the crisis for the cost of living and interest rates at a level not seen in decades.
The world must smartly manage the adjustment to greater security of supply, he added.
“Context is: Not cool”, he asserted.
Source: Reuters
Source: Gestion
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