News from the Financial Associated Press on December 9 (edited by Xia Junxiong)As 2022 draws to a close, the global economy appears to be continuing to deteriorate with no signs of improvement.
Leaders of the International Monetary Fund (IMF), the World Bank, the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OCED) expressed concern on Friday (December 9), local time, over the deteriorating global economic outlook.
Georgieva, managing director of the IMF, said that indicators show that global economic growth may decline further. In the “World Economic Outlook” released by the IMF in October, it predicted that the global economic growth rate in 2023 will slow down from 3.2% this year to 2.7%.
The IMF said that the global economic slowdown was more severe than expected, inflation was at its highest level in decades, financial conditions in most regions were tightening, the conflict between Russia and Ukraine broke out, and the new crown epidemic continued, all of which had a negative impact on the economic outlook. Serious impact.
World Bank President Malpass was also pessimistic about the global outlook, saying: “I am very concerned that the world is at risk of a global recession.”
Malpass warned that years of sluggish growth and widespread asset repricing could be ahead, creating a real long-term crisis for people in the developing world. He stressed that more work needs to be done to free the world from stagflation.
WTO Director-General Iweala pointed out on Friday that global trade is facing real challenges and trade growth is losing momentum. She expects global merchandise trade to grow just 1% next year, a sharp slowdown from 3.5% this year.
OECD Secretary-General Mathias Koeman also expects the global economic outlook to continue to deteriorate.
Last year’s global economic growth rate was 6%. If it drops to 3.2% this year and 2.7% in 2023, it will be the weakest growth performance since 2001 (excluding the worst phase of the global financial crisis and the new crown epidemic).