U.N. economists forecast a gloomy and uncertain outlook this year, with the global economy projected to grow at a very sluggish rate.
The 2023 World Economic Situation and Prospects report, issued recently, says a series of severe shocks have reduced global economic output to its lowest level in years, leaving many economies at risk of falling into recession.
In good news, the authors say inflation appears to have peaked in some of the more advanced economies, and East and South Asia emerged as the report’s bright spots for growth.
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Edited by Jesus Chan
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