A third of the global economy is expected be in recession in 2023, the Guardian newspaper reported, citing the Managing Director of International Monetary Fund (IMF) Kristalina Georgieva as saying during the interview with the CBS morning news program Face the Nation on Sunday.
She warned that for much of the global economy, 2023 will be tougher than last year.
“Why? Because the three big economies, US, EU, China, are all slowing down simultaneously,” Georgieva said.
The IMF currently projects global growth to be at 2.7% this year, slowing from 3.2% in 2022.