Half of the European Union and one-third of the world face recession in 2023, IMF warns

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Euronews (English)

For a third of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, said the head of the International Monetary Fund. The new year is going to be “tougher than the year we leave behind,” IMF Managing Director Kristalina Georgieva said on CBS’s show Face the Nation on Sunday. Economies around the world have come under pressure from the war in Ukraine, rising interest rates and prices, as well as COVID-19 cases in China, which have also slowed down production. As a result, in October t…

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