London, Tuesday, 22 November 2022
The OECD predicts that from 3.1% this year, global economic growth would likely fall to 2.2% in 2023 as a result of consistently high inflation rates, rising borrowing costs, energy supply limitations, and the protracted conflict in Ukraine.
The two regions expected to be hardest hit are Europe and the US, where GDP growth rates have both slowed to 0.5% from 3.3% and 1.8%, respectively.
(Report by: The Decision Maker – Finance editors)