2023 can be a year of economic shock!!!
People have new hopes for the new year, but this year can be worrying on the front of the global economy. IMF has said that the year 2023 is indicating the worst recession for the global economy. china, America and european countries can be the biggest responsible for this recession and this will increase the problems ranging from unemployment to inflation.
In fact, IMF Managing director Kristalina Georgieva has said during a conversation that the new year is going to be tougher than the last year that we have left behind because the three big economies – the US, the european union and china – all in one. Along with this, slowness is being seen and these countries are facing economic difficulties.
Georgieva has said that the US economy stands apart and can avoid troubles that are likely to affect one-third of the world's economies. She has said that America can survive the recession, because we see the labor market is very strong and America will not see much loss in it.
Let us tell you that in October, the IMF released a new estimate for Global Economic Development in 2023 and reiterated the point of cutting the growth rates. The IMF blamed rising inflation due to the Russia-Ukraine war and an increase in interest rates by the US Federal Reserve. Its effect has been clearly seen on the economy of the whole world.
On the other hand, even though the economy has been reopened in china by removing the zero covid policy, the cases of coronovirus are still increasing there.
