Global growth should start to recover this year, says IMF

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday that global economic growth should start to pick up in 2023 after hitting bottom despite the ongoing war in Ukraine and rising interest rates. .

Speaking at a World Economic Forum panel in Davos, Georgieva displayed an IMF forecast that global growth will slow to 2.7% this year from around 3.2% last year.

“Since the beginning of the year, we see some good news. We also expect that in 2023 growth will start to recover after bottoming out, to start the process where we go up instead of down,” she said.

Georgieva said the three most significant challenges were the Russia-Ukraine war, the cost of living crisis and record interest rates. The world has to adjust to greater security of supply smartly, she added.

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Translated to english by RJ983

From Brazil, by EBC News