IMF cuts 2023 growth outlook, says ‘worst is yet to come’ ...Middle East

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IMF cuts 2023 growth outlook, says ‘worst is yet to come’
WASHINGTON: The International Monetary Fund on Tuesday cut its global growth forecast for 2023 amid colliding pressures from the war in Ukraine, high energy and food prices, inflation and sharply higher interest rates, warning that conditions could worsen significantly next year.The Fund said its latest World Economic Outlook forecasts show that a third of the world economy will likely contract by next year, marking a sobering start to the first in-person IMF and World Bank annual meetings in three years.“The three largest economies, the United States, China and the euro area will continue to stall,“ IMF chief economist Pierre-Olivier Gourinchas said in a statement. “In short, the worst is y

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