The global economic outlook for 2023 is among the weakest in decades. The economic fallout from Russia’s invasion of Ukraine will weigh heavily on growth as demand is dampened by persistent inflation and the increasing impact of rising borrowing costs for businesses and consumers. Plus, the sharply reduced growth projection for 2023 remains fragile, as the global economy faces multiple headwinds, including immediate risks emanating from the ongoing war in Ukraine, elevated geopolitical volatility and rising economic fragmentation.
The global economic outlook for 2023 is among the weakest in decades. The economic fallout from Russia’s invasion of Ukraine will weigh heavily on growth as demand is dampened by persistent inflation and the increasing impact of rising borrowing costs for businesses and consumers. Plus, the sharply reduced growth projection for 2023 remains fragile, as the global economy faces multiple headwinds, including immediate risks emanating from the ongoing war in Ukraine, elevated geopolitical volatility and rising economic fragmentation.
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