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“The world will pay the price of war in 2023”

  • Post category:Economy News
  • Reading time:2 mins read
After a trying year 2022 for households and businesses, especially due to the resulting surge in inflation, “global growth should continue to weaken in 2023”, underlines the Paris-based institution. The latter expects global GDP to grow by 2.2% against 2.8% anticipated in previous forecasts in June, although it has maintained its forecast for this year at 3% after having reduced it significantly in recent years. month. “Inflationary pressures are increasingly widespread, with rising energy, transport and other costs impacting prices,” said the OECD, which has revised down its 2023 forecast on the quasi- all G20 member countries except Turkey, Indonesia and the United Kingdom whose economy will experience stagnation.

To show the magnitude of the shock of the war on the world economy, the OECD has estimated at 2,800 billion dollars (2,747.12 billion francs) the financial losses to be anticipated next year compared to forecasts prior to the end of the year. arrival of tanks in Ukraine. It is logically the neighboring countries of kyiv and Moscow that will suffer the most significant costs according to the OECD: growth in the euro zone is undergoing the most significant revision of all the regions of the world with growth expected at 0.3 % against 1.6% expected in June. The main reason is soaring energy prices, with inflation expected this year at 8.1% and 6.2% next year. Among the other major regions, US growth is expected by the OECD at 0.5% against 1.2% expected in June, and Chinese growth at 4.7% against 4.9%