Book

Global Economic Prospects, January 2023

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collection.link.32
https://openknowledge.worldbank.org/handle/10986/2140
collection.name.32
Global Economic Prospects
dc.contributor.author
World Bank
dc.date.accessioned
2022-09-16T15:35:46Z
dc.date.available
2022-09-16T15:35:46Z
dc.date.issued
2023-01-10
dc.date.lastModified
2023-01-27T19:32:00Z
dc.description.abstract
Global growth is projected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high inflation, worsening financial conditions, and continued disruptions from Russia’s invasion of Ukraine. Investment growth in emerging market and developing economies (EMDEs) is expected to remain below its average rate of the past two decades. Further adverse shocks could push the global economy into recession. Small states are especially vulnerable to such shocks because of the reliance on external trade and financing, limited economic diversification, elevated debt, and susceptibility to natural disasters. Against this backdrop, it is critical that EMDE policy makers ensure that any fiscal support is focused on vulnerable groups, that inflation expectations remain well anchored, and that financial systems continue to be resilient. Urgent global and national efforts are also needed to mitigate the risks of global recession and debt distress in EMDEs, and to support a major increase in EMDE investment.
dc.identifier.isbn
978-1-4648-1906-3
dc.identifier.isbn
978-1-4648-1950-6 (electronic)
dc.identifier.other
Library of Congress Control Number: 2022923405
dc.identifier.uri
http://hdl.handle.net/10986/38030
dc.publisher
Washington, DC: World Bank
dc.relation.ispartofseries
Global Economic Prospects
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
GLOBAL GROWTH
dc.subject
EMDE
dc.subject
EMERGING MARKET AND DEVELOPING ECONOMIES
dc.subject
MACROECONOMIC POLICY
dc.subject
GLOBAL DECELERATION
dc.subject
INFLATION
dc.subject
RISKS
dc.subject
RECESSION
dc.subject
FISCAL POLICY
dc.subject
ADVANCED ECONOMIES
dc.subject
GLOBAL ECONOMY
dc.subject
GEOPOLITICAL TENSIONS
dc.subject
DEBT LEVELS
dc.subject
RUSSIA INVASION
dc.title
Global Economic Prospects, January 2023
en
dc.type
Book
okr.crossref.title
Global Economic Prospects, January 2023
okr.doctype
Publications & Research
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1586/978-1-4648-1906-3
okr.identifier.doi
10.1596/978-1-4648-1906-3
okr.language.supported
en
okr.region.administrative
EAP, ECA, LAC, MNA, SAR, SSA
okr.region.geographical
World
okr.topic
Finance and Financial Sector Development
okr.topic
International Economics and Trade
okr.topic
Macroeconomics and Economic Growth
okr.unit
EFI Prospects Group

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