Global Economic Prospects, June 2023
Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could...
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| Autor principal: | |
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| Formato: | Online |
| Idioma: | en_US |
| Publicado em: |
Washington, DC: World Bank
2023
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| Acesso em linha: | https://openknowledge.worldbank.org/handle/10986/39846 |
| _version_ | 1866367013282119680 |
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| author | World Bank |
| author_facet | World Bank |
| author_sort | World Bank |
| collection | Publicaciones institucionales emblemáticas |
| description | Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth. |
| format | Online Book |
| id | wb-10986-39846 |
| institution | Banco Mundial |
| language | en_US |
| publishDate | 2023 |
| publisher | Washington, DC: World Bank |
| record_format | dspace |
| spelling | wb-10986-398462025-11-13T10:55:24Z Global Economic Prospects, June 2023 World Bank MACROECONOMICS GDP GROWTH INTEREST RATES EXCHANGE RATES INFLATION EMERGING AND DEVELOPING ECONOMIES EMDE Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth. 2023-05-25T14:14:40Z 2023-05-25T14:14:40Z 2023-06-06 Book 978-1-4648-1951-3 978-1-4648-1952-0 (electronic) https://openknowledge.worldbank.org/handle/10986/39846 10.1596/978-1-4648-1951-3 10.1596/39846 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf application/vnd.openxmlformats-officedocument.spreadsheetml.sheet application/octet-stream application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf application/pdf Washington, DC: World Bank |
| spellingShingle | MACROECONOMICS GDP GROWTH INTEREST RATES EXCHANGE RATES INFLATION EMERGING AND DEVELOPING ECONOMIES EMDE World Bank Global Economic Prospects, June 2023 |
| title | Global Economic Prospects, June 2023 |
| title_full | Global Economic Prospects, June 2023 |
| title_fullStr | Global Economic Prospects, June 2023 |
| title_full_unstemmed | Global Economic Prospects, June 2023 |
| title_short | Global Economic Prospects, June 2023 |
| title_sort | global economic prospects june 2023 |
| topic | MACROECONOMICS GDP GROWTH INTEREST RATES EXCHANGE RATES INFLATION EMERGING AND DEVELOPING ECONOMIES EMDE |
| url | https://openknowledge.worldbank.org/handle/10986/39846 |
| work_keys_str_mv | AT worldbank globaleconomicprospectsjune2023 |