Managing Director of International Monetary Funds, Kristalina Georgieva, has painted an alarming picture of the overall economical situation of the year 2023. During an interview with CBS, Kristalina Georgieva predicted that one-third of the world would be in recession in 2023, and it would be a difficult year for global economies.
Georgieva added that three major centres of development, the United States, Europe and China, would have weak economic activity and hence this year would be more difficult than last year.
She briefed that it was likely to be the first time in 40 years that China’s growth in 2023 would be equal to or lower than global growth. She pointed out that the coronavirus in China would also affect its economy and subsequently regional & global development.
Regarding the US economy, Georgieva had encouraging remarks. She said that compared to other countries, the US had a different economic structure, and it may avoid the economic stress that was expected to affect one-third of the global economies.