• About us
  • Contact Us
Saturday, July 12, 2025
No Result
View All Result
The World Monitor
  • The World Monitor
  • Middle East
  • Africa
  • World
  • Economy
  • Sports
  • Climate
  • Technology
  • Crypto
  • The World Monitor
  • Middle East
  • Africa
  • World
  • Economy
  • Sports
  • Climate
  • Technology
  • Crypto
No Result
View All Result
The World Monitor
No Result
View All Result
Home Economy

Global Economic Growth Slows in 2023 Amid Higher Interest Rates

June 6, 2023
Global Economic Growth Slows in 2023 Amid Higher Interest Rates
Share on FacebookShare on TwitterShare on Whatsapp

According to the World Bank’s latest Global Economic Prospects report, the global economy is expected to experience a significant slowdown this year due to a combination of factors, including high interest rates, the impact of Russia’s invasion of Ukraine, and the ongoing effects of the COVID-19 pandemic.

The report projects that the international economy will grow by just 2.1% in 2023, compared to a growth rate of 3.1% in 2022. While this outlook represents an upgrade from the bank’s previous forecast, which predicted a growth rate of 1.7% for this year, it still signals a notable deceleration in global economic activity.

One of the primary factors contributing to the slowdown is the aggressive interest rate hikes implemented by central banks, including the Federal Reserve, in response to resurging inflation. The rebound from the pandemic recession, persistent supply shortages, and energy and food price shocks resulting from the Ukraine war have all contributed to the inflationary pressures.

The World Bank’s report underscores the need for careful policy management to strike a balance between addressing inflationary pressures and supporting economic recovery. It emphasises the importance of coordinated efforts among central banks and policymakers to navigate the challenging economic landscape and promote sustainable growth.

Overall, the World Bank’s latest outlook highlights the vulnerabilities and complexities facing the global economy, requiring ongoing vigilance and policy adjustments to navigate these uncertain times.

Tags: Global EconomyInterest Rates
Next Post
Sudan’s Army Chief Highlights Jeddah Talks as Pivotal Platform

Sudan's Army Chief Highlights Jeddah Talks as Pivotal Platform

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

2023.. Egypt’s Agricultural Exports Surpass 4.1 Million Tonnes

UAE & Jordan Discuss Bilateral Relations

1 year ago
US Fears Threats from 3 Countries Ahead of Presidential Election

US Fears Threats from 3 Countries Ahead of Presidential Election

1 year ago

Popular News

  • Sudan’s RSF Accused of Abducting Women & Girls

    Sudan’s RSF Accused of Abducting Women & Girls

  • Saudi Arabia Signs 11 Agreements with Military Defense Companies

  • Russia Reopens Embassy in Libya

  • Algeria Condemns Israeli Aggression on Yemen

  • Libya Leads African Intelligence in 2025

Follow us

"Connecting the World to the Heartbeat of Middle East and Africa – Your Trusted Source for News and Insights."

  • The World Monitor
  • Middle East
  • Africa
  • World
  • Economy
  • Sports
  • Climate
  • Technology
  • Crypto

ABOUT US

CONTACT US

Privacy Policy

  • About us
  • Contact Us

© 2023 THE WORLD MONITOR

No Result
View All Result
  • Home
  • Africa
  • World
  • Economy
  • Climate
  • Sports
  • Crypto
  • Technology

© 2023 THE WORLD MONITOR