(ORDO NEWS) — In 2023, global economic growth will be only 1.2%. This is in line with the 2008-2009 financial crisis period. This is reported by Bloomberg with reference to a study by the Institute of International Finance.
According to the study, this slowdown is due to the development of the situation in Ukraine.
According to the base scenario of the Institute of International Finance, the conflict will last at least until 2024. Because of this, the European economy, according to experts of the institute, will shrink by about 2%. The US economy will grow by 1%.
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