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Global growth to bottom out this year: IMF’s Georgieva
A man walks past the logo of the World Economic Forum (WEF) 2023 at Davos Congress Centre in the Alpine resort of Davos, Switzerland. — Reuters
International Monetary Fund managing director Kristalina Georgieva said on Tuesday global economic growth was expected bottom out in 2023 despite the continued Ukraine war and rising interest rates.
Speaking at a World Economic Forum panel in Davos, Georgieva affirmed an IMF forecast for global growth to decelerate to 2.7 per cent this year from around 3.2 per cent last year.
“Since the beginning of the year we do see some good news. We also expect in 2023 growth to bottom out, to start the process in which we go up rather than down,” she said.
International Monetary Fund managing director Kristalina Georgieva affirmed an IMF forecast for global growth to decelerate to 2.7 per cent this year from around 3.2 per cent last year. — AP file photo
Georgieva said the three very significant challenges were the Russia-Ukraine war, the cost of living crisis and interest rates at a level unseen in decades. The world must manage the adjustment to more security of supply smartly, she added.
“The context is: It is not great,” she added. — Reuters
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