With supply bottlenecks and repeated Covid lockdowns in China also crimping the world’s patchy pandemic recovery, Georgieva said the G20 finance ministers and central bankers gathering in Bali “face a global economic outlook that has darkened significantly”.
“It is going to be a tough 2022 – and possibly an even tougher 2023, with increased risk of recession.” The European Commission was expected to cut its eurozone GDP forecast for 2023 to 1.4% from 2.3% on Thursday,, citing a leaked draft from the EU executive in Brussels. Inflation in the single currency area is expected to average 7.6% this year before falling to 4% next year, the document said.
Another Putin fault...
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