- December 28, 2022
- Posted by: Stratford Team
- Category: Economy
Global recession forecast & economic outlook
THE global economic outlook for the year 2023 is gloomy, international financial institutions have anticipated that next year will feel like a global recession for millions of people, especially from emerging markets and developing countries.
This apprehension is backed by several historical indicators, the global economy is in the steepest slowdown following a post-recession recovery since 1970, global consumer confidence has suffered a much sharper decline than ever, and the inflation rate is continuously increasing due to hike in interest rates.
The largest three economies of to world, the United States of America, China, and Eurozone have been showing a slow growth rate and an average hit to the economy will cause a global recession.
While global economy was making recovery after a massive blow during the Covid-19 pandemic, the Russia-Ukraine war has aggravated the global economic crisis further.
The war is…
