The worst is yet to come - IMF's harsh warning for 2023
"The worst is yet to come and for many people, 2023 will feel like a recession," the chief economist of the International Monetary Fund (IMF), Pierre-Olivier Gourinchas, warned on Tuesday.
According to the IMF One-third of the world economy will likely contract this year or next amid shrinking real incomes and rising prices
Acknowledging that "storm clouds are gathering," the agency announced its global economic projections without much room for optimism given the current international situation.
For this year, it estimates world economic growth of 3.2% and for the following year of only 2.7%.
Although some countries are having it worse than others, at least a third of the world's economies are at risk of slipping into recession next year
It is very difficult to know when a new crisis will appear, so in this aspect, the recommendation is: to stay informed of the financial news and try to study the possibility of a new economic crisis, without this leading you to a state of ongoing stress or uncertainty. Therefore, it will always be advisable to be aware of the macroeconomic factors that affect the country and the world. It is also important to maintain the stability of your personal finances. Taking unnecessary risks can lead you to a vulnerable financial state and at the moment that a new crisis may arise, suffer the consequences.