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.

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.