Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation.
Significant rises in the cost of vital items such as food and energy created a cost of living crisis that has engulfed households and businesses. Central banks reacted with a raft of interest-rate hikes, while a wave of industrial action saw workers in many countries fighting for pay and conditions to keep pace with this new economic era.
Now, as we enter 2023, these conditions are set to continue, and the IMF thinks that a third of the world will experience a recession in the coming months.
To help you make sense of the way ahead, our international network has put together a series of expert briefings on the global economy in 2023. Publishing over the next few days,…