Global Economic Prospects, January 2023 (Paperback) (ISBN-13: 9781464819063)

Global growth is projected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high

inflation, worsening financial conditions, and continued disruptions from Russia's invasion of Ukraine. Investment growth in emerging market and developing economies (EMDEs) is expected to remain below its average rate of the past two decades. Further adverse shocks could push the global economy into recession. Small states are especially vulnerable to such shocks because of the reliance on external trade and financing, limited economic diversification, elevated debt, and susceptibility to natural disasters. Against this backdrop, it is critical that EMDE policy makers ensure that any fiscal support is focused on vulnerable groups, that inflation expectations remain well anchored, and that financial systems continue to be resilient. Urgent global and national efforts are also needed to mitigate the risks of global recession and debt distress in EMDEs, and to support a major increase in EMDE investment.

Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects,

with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.

Author: World Bank Group
ISBN-10: 1464819068
ISBN-13: 9781464819063
Publisher: World Bank Publications
Language: English
Published: 02/23/2023
Pages: 194
Format: Paperback
Weight: 1.02lbs
Size: 11.00h x 8.50w x 0.41d