Global economy faces tougher year in 2023, IMF warns
(VOVWORLD) - IMF Managing Director Kristalina Georgieva said for much of the global economy, 2023 is going to be a tough year as the main engines of global growth - the United States, Europe and China - all experience weakening activity.
 IMF Managing Director Kristalina Georgieva (Photo: Michele Tantussi/Reuters) |
Speaking on the CBS Sunday morning news program "Face the Nation" on Sunday, Ms. Kristalina Georgieva said the three big economies - the US, the EU, and China - are all slowing down simultaneously.
For the first time in 40 years, China's growth in 2022 is likely to be at or below the global growth.
Meanwhile, Georgieva said, the US economy is standing apart and may avoid the outright contraction that is likely to afflict as much as a third of the world's economies while half of the EU is likely to be plunged into recession in 2023.