Global economic growth next year will reach only 2.7 percent. Back in July, the International Monetary Fund expected the world economy to grow by almost three percent in 2023.
Japan and Canada will grow the fastest
Developed economies will grow at the slowest rate in 2023. The International Monetary Fund predicts a GDP growth of only 1.1 percent for this group of countries. But Germany and Italy even have to count on a full-year drop in GDP, namely by 0.3 and 0.2 percent, respectively. Conversely, Japan (1.6) and Canada (1.5) have the fastest growth.
Emerging economies will grow faster
Developing economies will grow by 3.7 percent next year, the IMF estimates. India will grow the fastest of this group of countries, at a rate of more than six percent. China follows with 4.4 percent, other economies are expected to grow by less than four percent. Russia is the only one of these countries to experience an economic decline, by 2.3 percent.
The International Monetary Fund accompanied the current economic outlook with a warning that the world will continue to face high inflation and great uncertainty next year. This will stem from inflation on the one hand, and from the ongoing war conflict in Ukraine on the other.
