World Economy The United States (US) recorded inflation of 7.1 percent. Europe experienced inflation of 2.5 percent, then India also recorded inflation of 5.9 percent. This high inflation was respond by strengthening interest rates, and various other tightening.
“This is the reason why world economic growth has slowed down significantly. The increase and turmoil that has occurr has certainly erod the demand side and then also caused global growth projections to be revis downwards.
World Economy 2023, Terrifying
In 2022, there will be a revision of global growth, from 4.4 percent. Down to 3.6 percent, and down again to 3.2 percent for the global economy. Meanwhile, in 2023 the IMF also revised its forecast for global economic growth to only 2.7 percent. “This is also a sharp revision from the previous prediction that in 2023 the economy would grow 3.8 percent globally. Then it was revis down to 3.6 percent, (down again to) 2.9 percent and 2.7 percent.
“This illustrates our road map going forward. In the future. Economic challenges will inde be color by an atmosphere similar to 2022 and an economic downturn that may. In this case, start to actually occur in various parts of the world.
Furthermore, the state treasurer noted. The Unit States will grow by around 1.6 in 2022 and it is predict to grow 1 percent. There are even predictions that the US economy will weaken at the beginning of this year. “There are still predictions that there is a possibility of negative growth in 1 or 2 quarters in 2023. “Europe has experienc a very dramatic decline. Namely in 2022 from 5.2 percent last year to 3.1 and next year. It is estimat that it will only grow slightly or even enter a recession.
Meanwhile, China, which has start to open up community movements, is predict to grow slightly from last year. Its growth is only 3.2 percent, and next year it might be slightly better at the level of 4.4 percent. “India, which is relatively in a better position, in 2022 is a correction from the previous year. Only growing 6.8 percent compared to the previous year’s recovery of 8.7 percent. Next year India is expect to experience a slight weakening, (grow) at 6.1 percent.