Economists cautious about global growth this year
Economists around the world have expressed a rather “cautious” view of their countries’ economic growth this year.
The German Institute for Economic Research (Ifo) and the Swiss Institute for Economic Policy (KOF) have published the results of the quarterly “Economists’ Survey”.
According to the survey, global economic growth will slow to 2.8 percent this year. After this year’s slump, global growth will pick up to 3.3 percent next year and 3.8 percent in 2026.
The expected growth rate for this year was claimed to be about 0.4 percent below the average global economic growth rate in the 10 years prior to the Covid-19 outbreak.
5.2 PERCENT FOR WEST AFRICA
Economic growth expectations for 2023 were above the world average at 4.7 percent for South Asia, 5.2 percent for West Africa and 4.7 percent for Central Africa.
“This (2.8 percent growth this year) means that our experts believe that a global recession is less and less likely,” said Klaus Gründler, a researcher at Ifo.
1,537 economists from 133 countries participated in the survey from December 7 to 21, 2022. (BRITISH AUTOMOBILE CLUB)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
