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MONDAY, JULY 21, 2025
Davos 2023: Global growth to bottom out this year - IMF's Georgieva

Global Economy

Reuters
17 January, 2023, 09:10 pm
Last modified: 17 January, 2023, 09:14 pm

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Davos 2023: Global growth to bottom out this year - IMF's Georgieva

Reuters
17 January, 2023, 09:10 pm
Last modified: 17 January, 2023, 09:14 pm
FILE PHOTO: Managing Director of IMF Kristalina Georgieva attends a session during the G20 Leaders' Summit, in Nusa Dua, Bali, Indonesia, November 16, 2022. REUTERS/Willy Kurniawan/Pool/File Photo
FILE PHOTO: Managing Director of IMF Kristalina Georgieva attends a session during the G20 Leaders' Summit, in Nusa Dua, Bali, Indonesia, November 16, 2022. REUTERS/Willy Kurniawan/Pool/File Photo

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday global economic growth was expected bottom out in 2023 despite the continued Ukraine war and rising interest rates.

Speaking at a World Economic Forum panel in Davos, Georgieva affirmed an IMF forecast for global growth to decelerate to 2.7% this year from around 3.2% last year.

"Since the beginning of the year we do see some good news. We also expect in 2023 growth to bottom out, to start the process in which we go up rather than down," she said.

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Georgieva said the three very significant challenges were the Russia-Ukraine war, the cost of living crisis and interest rates at a level unseen in decades. The world must manage the adjustment to more security of supply smartly, she added.

"The context is: It is not great," she added.

 

Top News / World+Biz

IMF Chief Kristalina Georgieva / global growth / Davos 2023 / IMF chief

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