The global economy is on the verge of a downturn amid extraordinarily high levels of uncertainty amid persistent inflation, monetary policy tightening, fiscal challenges, geopolitical shifts and financial market volatility, according to a report.
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Moody’s Investors Service said in a report said global growth would slow in 2023 and remain sluggish in 2024. Still, a period of relative stability could emerge by 2024 if governments and central banks manage to navigate their economies through the current challenges.
“For India, the 2022 real GDP growth projections have been lowered to 7 per cent from 7.7 per cent. We expect growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024,” according to the report Global Macro Outlook 2023-24.
Global economy faces a reckoning over inflation, geopolitics and policy trade-offs. “The downward…
