The International Monetary Fund (IMF) projects a decrease in global economic growth from an estimated 3,4% in 2022 to 2,9% in 2023. The sharp increase in central bank interest rates as they attempted to curb rising inflation resulted in lower demand, especially in developed countries. The war in Ukraine and China's problems with curbing COVID-19 further contributed to lower global growth estimates.
Growth in the developed world will decrease sharply from 2,7% in
