The global economy continues to face steep challenges, including the Russian invasion of Ukraine and a cost-of-living crisis caused by persistent and broadening inflation pressures. 

The global economy continues to face steep challenges.

The IMF's global growth forecast for this year is unchanged at 3.2%, but it has lowered its projection for next year to 2.7%—0.2 percentage points lower than the July forecast.

Despite the economic slowdown, inflation pressures are proving broader and more persistent than anticipated. Global inflation is now expected to peak at 9.5% this year before decelerating to 4.1% by 2024.

Our global growth forecast for this year is unchanged at 3.2 percent, while our projection for next year is lowered to 2.7 percent—0.2 percentage points lower than the July forecast. The 2023 slowdown will be broad-based, with countries accounting for about one-third of the global economy poised to contract this year or next. The three largest economies, the United States, China, and the euro area will continue to stall. Overall, this year’s shocks will re-open economic wounds that were only partially healed post-pandemic. In short, the worst is yet to come and, for many people, 2023 will feel like a recession.

Source : www.weforum.org/agenda/2022/10/global-economy-growth-forecast/ by videos@weforum.org (World Economic Forum) - October 17, 2022