The IMF expects 2023 to be tougher than 2022 for most of the global economy. The main economic growth engines, namely the United States, the European Union and China will have their economic activity slow down, so that 2023 will be difficult for the global GDP, the head of the International Monetary Fund (IMF), Kristalina Georgieva, told the American TV station CBS. In October, the IMF downgraded its global economic outlook for 2023, following the war in Ukraine, sharply rising interest rates and inflationist pressure. Georgieva said that China, which sees a surge in COVID-19 cases following the dismantling of its strict “zero-COVID” policy, may have its economy affected. Meanwhile, the EU has been especially hard hit by the war in Ukraine, with half of the bloc expected to be in recession this year, Georgieva said. Also, the global growth rate will slow down from 3.2% in 2022 to 2.75 this year, while governments will have to make sure they have sufficient revenues for expenditure, as they will no longer be able to borrow money in advantageous conditions. As regards Romania, the economic growth rate will slow down from 2.8% this year to more than 5% in 2022.
Eugen Cojocariu, Radio Romania International
