Global Growth to Be as Weak Next Year as 2009, IIF Forecasts
- World economy to expand 1.2% next year, the trade group says
- Eurozone economy to shrink 2% in 2023 as war drags on
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The world economy will be as weak next year as it was in 2009 after the financial crisis as the conflict in Ukraine risks becoming a “forever war,” the Institute of International Finance said.
Global growth is expected to slow to 1.2% in 2023, economists including Robin Brooks and Jonathan Fortun wrote in a note Thursday. When adjusted for base effects, that’s as weak as it was in 2009.