© Reuters Four major international institutions warn: the worsening global economic outlook could worsen further next year
December 9 Financial Associated Press News (Edited by Xia Junxiong)As 2022 draws to a close, the global economy appears to continue 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 Co-operation and Development (OECD) expressed concern on Friday (December 9), local time, over the deterioration of the global economic outlook.
Georgieva, managing director of the IMF, said indicators show that global economic growth could decline further. In the “World Economic Outlook” released by the IMF in October, you predicted that the global economic growth rate in 2023 will slow down from 3.2% this year to 2.7%.
The IMF said 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 had erupted and the new corona epidemic continued, 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 it could be years of slow growth and widespread asset appreciation, creating a real long-term crisis for people in developing countries. He stressed that more work needs to be done to rid the world of stagflation.
WTO Director-General Iweala stressed on Friday that global trade is facing real challenges and trade growth is losing momentum. He expects global trade in goods 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.
The global economic growth rate was 6% last year, 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 crisis financial crisis and the new corona epidemic).
