Turning to the global economy, Moody’s said it was on the brink of a slowdown amid extraordinarily high uncertainty amid persistent inflation, monetary policy tightening, fiscal challenges, geopolitical changes and financial market volatility.
Moody’s Investors Service lowered its projection for real gross domestic product (GDP) growth for 2022 to 7.0% from 7.7%. He said he expects growth to slow to 4.8% in 2023 and then to around 6.4% in 2024.
“The downgrade assumes higher inflation, high interest rates and slowing global growth that will dampen economic momentum more than expected,” Moody’s said in its report, “Global Macro Outlook 2023-24: Global economy faces a reccounting over inflation, geopolitics and political compromises »
On China’s real GDP, he said he expects 3.0% growth this year, down from our forecast of 3.5% in August, with growth expected to reach around 4.0% in 2023 and 2024.
“Our forecast reflects the impact of COVID-19 control measures, which are weighing on consumption. In addition, the slowdown in the real estate sector will inflict losses on households, developers, bank and non-bank lenders and community finances. local,” he said.
Turning to the global economy, Moody’s said it was on the brink of a slowdown amid extraordinarily high uncertainty amid persistent inflation, monetary policy tightening, fiscal challenges, geopolitical changes and financial market volatility.
“Global growth will slow in 2023 and remain sluggish in 2024. Nonetheless, a period of relative stability could emerge by 2024 if governments and central banks manage to steer their economies through the current challenges,” he said. added.
This is a development copy
