The latest World Economic Outlook released by the IMF stated that inflation higher than seen in several decades, tightening financial conditions in most regions, Russia’s invasion of Ukraine, and the lingering COVID-19 pandemic all weighed heavily on the outlook. The IMF kept its global economic growth forecast for 2022 unchanged at 3.2% compared to the 2022 July Report. It reduced 2023 global growth forecast from 2.9 percent to 2.7 percent. The IMF projected that the global inflation  would reach to 8.8 percent in 2022, and then would decline to 6.5 percent in 2023 and 4.1 percent in 2024.

Source: IMF October 2022 Report
 Post by: Republic of Türkiye Ministry of Trade