Downbeat Global Economic Forecasts

Whether growth declines or only stagnates in 2023, the long-term trend is concerning.

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Global Economic Outlook | 2023
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In its new forecast, the World Bank joined the chorus warning of a potential global recession in 2023. Whether economic growth declines or only stagnates, the long-term trend is concerning for developed and emerging markets. The World Bank forecasts global per capita income to grow by just 2.8 percent this year, compared with 6 percent before the pandemic. Emerging economies are particularly vulnerable to the effects of high inflation and currency depreciation. Investment is also expected to remain subdued through 2024. Roughly a fifth of emerging economies is already effectively locked out of global debt markets – a share likely to rise over the course of this year.

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Geopolitical Futures (GPF) was founded in 2015 by George Friedman, international strategist and author of The Storm Before the Calm and The Next 100 Years. GPF is non-ideological, analyzes the world and forecasts the future using geopolitics: political, economic, military and geographic dimensions at the foundation of a nation.