“2023 will be tougher”: the IMF worsened the forecast for the global economy

The weakening of activity in the three main centers of global growth – the US, the EU and China – will lead to a more difficult situation in the global economy in 2023.

This was stated by the Managing Director of the International Monetary Fund Kristalina Georgieva.

“2023 will be tougher than the year we left behind. Why? Because the three big economies – the US, the EU and China – are slowing down at the same time,” she said.

For the first time in 40 years, China’s economic growth could be “on par with or below global growth,” she said. This is due, in part, to outbreaks of COVID-19 recorded in the country at the end of 2022, and in the coming months, it is likely that its economy will be hit even harder.

“Over the next few months, the situation for China will be difficult, and the impact on Chinese growth will be negative, the impact on the region will be negative, the impact on global growth will be negative,” she added.