Global Recession 2023
Recession Could Engulf One-third Of The World’s Economy By 2023. The International Monetary Fund expressed Such Fears.
Global Recession 2023: The International Economy To Face A Recession In The New Year, Has Already Been Warned By Economic Analysts, A Group Of Economists. This Time, The International Monetary Fund or ‘International Monetary Fund’ (IMF) Gave A Seal To That Recession-theory.
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About One-third Of The World’s Economies Will Go Into Recession By 2023, IMF Chief Kristalina Georgieva Has Warned. The Main Reason Is The Slowdown In Economic Growth In Europe, the United States and China. Even in Those Countries That Will Not Be Hit Directly By The Recession, There Is A Risk That The Recession Will Affect A Majority Of The Marginalized People In Those Countries.
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The IMF Chief Also Explained Why This Situation is Feared. He Said, Russia-Ukraine War Continued For 10 Months. However, it Shows No Signs Of Stopping. Along With The High Inflation Rate And The Announcement Of High Interest Rates To Control It, Again The New Corona Virus Infection in China, The Whole World Is Facing A Recession.
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The IMF Lowered Its Forecast For International Economic Growth In October 2022. Economic Growth Is Projected At 6% In 2021, Slowing To 3.2% In 2022 And 2.7% In 2023. The Rate Of Growth Was The Lowest Since 2001, According To The International Monetary Fund. Economic Growth Has Always Been Higher Than That, Except For The 2008 Economic Recession And The Covid-19 Pandemic.
China Has Given Its Zero-covid Policy A Shock To The World With Its Economy. But The Chinese Government’s Opposition To This Claim Came From Within The Country. As A Result, There Is An Instability. In View Of Which, The IMF Chief Says, The Next Few Months Are Going To Be Tough For China’s Economy. So Far, China’s Economic Growth Rate Appears To Be Negative. Its Impact Will Be Negative In The Entire Territory And Also In The Whole World Due To Which There Is A Negative Trend In The Rate Of Economic Growth.
However, Before This, The Fear Of Recession Was Heard From Several Experts. Raghuram Rajan, Former Governor Of The Reserve Bank of India, Also Expressed His Fear That 2023 is Going To Be A Tough Time For The Indian Economy.