The International Monetary Fund’s Director General, Crystalina Georgiva, stated at a press conference on Sunday that “the worst has not yet come.”
The European Union and China, two of the three largest economies in the world, are expected to mostly stop growing next year, while the economies that account for more than a third of the global economy are predicted to contract.
The fund anticipates 2.7% growth overall in 2023, down from 3.2% this year.
The US consumer price index increased by 8.
2% in September compared to the same month last year, with a 6.6% increase in basic costs (excluding the cost of food and volatile energy).
This was the fastest rate in forty years, indicating that fundamental prices were strong.
It’s probable that the fundamental reading of the Federal Consumer Price Index will continue to point in the right direction for next month’s 0.75 percent increase in the benchmark interest rate.
The rapid increases of the federal interest rate this year helped to attract investors to the American markets and raise the value of the dollar, as the dollar’s strength increases the costs of imported imports in dollars and serve the debt to many other countries, as it pressures other central banks to raise their interest rates to protect their currencies, which may It leads to a slowdown in growth.
The US economy will grow by 1%, down from 1%, according to the International Monetary Fund in 2019.
This year, 6%.
Economists explained in a poll conducted by the American newspaper “Wall Street” that a recession may occur in the United States in the next twelve months at 63 %, an increase of 49 % in the July poll.
Source: Middle East News Agency.
The worst is still to come, according to Crystalina Georgeva
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