Posted: 04.01.2023 15:02:00

IMF Head: half of EU states to slide into recession due to Ukrainian conflict

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, said the year of 2023 will be very difficult for most of the world economy, and half of the EU countries will slip into recession because of the Ukrainian conflict


In her talk with the CBS TV channel, Ms. Georgieva stressed that 2023 will be even more difficult for the world economy than last year, because the growth rates of the three largest economies – the US, the EU and China – are slowing down at the same time.

She added that the EU countries have suffered because of the conflict in Ukraine, so half of them will be in recession this year.

According to Ms. Georgieva, although the world has turned out to be more stable than many previously thought, a third of the world economy will be in recession in 2023.