{
  "title": "World Economic Outlook Shows Economies Facing High Uncertainty",
  "publication": "IMF Blog, April 19, 2023",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2023/04/19/world-economic-outlook-shows-economies-facing-high-uncertainty",
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  "summary": "The Chart of the Week brings together our economic forecasts, which reveal weaker growth amid an uncertain outlook with high downside risks",
  "sections": [
    {
      "heading": "Key forecast findings",
      "content": "- Global growth is forecast to slow from 3.4 percent last year to 2.8 percent this year.\n- Global growth is expected to accelerate to 3 percent next year.\n- In a plausible alternative scenario with further financial sector stress, global growth would decelerate to about 2.5 percent in 2023.\n- Looking further ahead, growth is expected to remain around 3 percent over the next five years.\n- The baseline forecast of 3 percent five years ahead for 2028 is the lowest medium-term growth projection since 1990.\n- The 3 percent five-year forecast is well below the average of 3.8 percent from the past two decades."
    },
    {
      "heading": "Risks and drivers of the outlook",
      "content": "- Risks to the outlook are heavily skewed to the downside, with heightened chances of a hard landing.\n- The anemic outlook reflects:\n  - the tight policy stances needed to bring down inflation,\n  - the fallout from the recent deterioration in financial conditions,\n  - Russia’s war in Ukraine,\n  - and growing geoeconomic fragmentation."
    },
    {
      "heading": "Chart of the Week (data presentation)",
      "content": "- The Chart of the Week aggregates gross domestic product forecasts from the latest assessment.\n- Users can add any economy or grouping from the dataset to the chart and move the slider for historical data or future estimates.\n\nSource: World Economic Outlook Shows Economies Facing High Uncertainty (April 19, 2023).\n\n---\n\n\n References\n\n- Download Data\n- Download Full Report\n- Watch Video\n- World Economic Outlook\n- deterioration in financial conditions\n- fragmentation\n\nSource: https://www.imf.org/en/blogs/articles/2023/04/19/world-economic-outlook-shows-economies-facing-high-uncertainty"
    }
  ],
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    "[Markdown version](/en/blogs/articles/2023/04/19/world-economic-outlook-shows-economies-facing-high-uncertainty/index.md)",
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    "Authors: Mehdi Benatiya Andaloussi, Chiara Maggi",
    "Published: April 19, 2023",
    "Global growth is forecast to slow from 3.4 percent last year to 2.8 percent this year.",
    "Global growth is expected to accelerate to 3 percent next year.",
    "In a plausible alternative scenario with further financial sector stress, global growth would decelerate to about 2.5 percent in 2023.",
    "Looking further ahead, growth is expected to remain around 3 percent over the next five years.",
    "The baseline forecast of 3 percent five years ahead for 2028 is the lowest medium-term growth projection since 1990.",
    "The 3 percent five-year forecast is well below the average of 3.8 percent from the past two decades.",
    "Risks to the outlook are heavily skewed to the downside, with heightened chances of a hard landing.",
    "The anemic outlook reflects:",
    "The Chart of the Week aggregates gross domestic product forecasts from the latest assessment.",
    "Users can add any economy or grouping from the dataset to the chart and move the slider for historical data or future estimates.",
    "[Download Data](https://www.imf.org/en/Publications/WEO/weo-database/2023/April)",
    "[Download Full Report](https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023?cid=bl-com-spring2023flagships-WEOEA2023001)",
    "[Watch Video](https://www.imf.org/en/Videos/view?vid=6324323400112)",
    "[World Economic Outlook](https://www.imf.org/en/Blogs/Articles/2023/04/11/global-economic-recovery-endures-but-the-road-is-getting-rocky)",
    "[deterioration in financial conditions](https://www.imf.org/en/Blogs/Articles/2023/04/04/nonbank-financial-sector-vulnerabilities-surface-as-financial-conditions-tighten)",
    "[fragmentation](https://www.imf.org/en/Blogs/Articles/2023/04/05/fragmenting-foreign-direct-investment-hits-emerging-economies-hardest)"
  ],
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