IIF: global growth will be as weak as in 2009 – WORLD
The Institute of International Finance (IIF) said they expect the global economy to show the same weak growth next year as it did after the global financial crisis in 2009.According to a report by economists Robin Brooks and Jonathan Fortan, global growth is expected to slow to 1.2 percent in 2023. The eurozone economy is projected to contract by 2 percent after that. While the IIF predicted that the US economy would grow by 1 percent, it set the expected growth for Latin America at 1.2 percent. The IIF also indicated that the biggest determinant of the global economy will be China next year.
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