IMF President Predicts Historically Low Global Economic Growth in the Next Five Years

Kristalina Georgieva, president of the International Monetary Fund (IMF), said, “The global economic growth rate is showing a historically low level,” and predicted that the growth rate will stop at 3% over the next five years.

President Georgieva said at the ‘Milken Institute Global Conference 2023’ held in Los Angeles (LA) on the 1st (local time), “Unfortunately, the growth rate will not only slow down to 2.8% this year, but will recover to only 3% next year, and the next 5 It will stay in the 3% range for a year,” he said. At the same time, he said, “Protectionism in each country is pouring cold water on economic growth.”

“Inflation is not coming down as fast as we would like,” Georgieva said.

“Global inflation is expected to be 7% this year,” he said.

Regarding the recent economic situation, Governor Georgieva pointed out that “the vulnerability of the financial sector was exposed in the process of a rapid transition from low interest rates to high interest rates.” did.

“We’ve seen the price it pays,” he added. “There are things we need to do to mitigate this risk.”

“We’re all going to be wrestling with the speed with which money can move from one place to another and the role of social media,” he said. .