Global Economic Prospects June 2023 - Insights and Forecasts

The Global Economic Prospects report for June 2023 presents a detailed analysis of global economic trends, growth forecasts, inflation rates, monetary policies, financial stress, fiscal challenges, and global risks. The publication highlights the impact of various factors such as U.S. interest rate increases, climate change, and trade barriers on the global economy. It also addresses challenges faced by low-income countries and provides insights into potential growth scenarios for 2023-24. The accompanying visual data and charts offer a comprehensive overview of the economic landscape, pointing towards a sharp downturn and multiple downside risks that need to be navigated in the coming period.

• Global Economic Prospects
• June 2023
• Growth Forecasts
• Inflation Rates
• Monetary Policy

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1. Global Economic Prospects June 2023 www.worldbank.org/gep

2. Global Economic Prospects June 2023 2

3. Global Economic Prospects June 2023 Underlying data and charts can be found at www.worldbank.org/gep 3

4. Global Growth Forecasts Sharp Downturn Continues in 2023 4

5. Growth Forecasts for 2023 Larger Downgrades in Countries with Tighter Monetary Policy and Greater Vulnerabilities 5

6. Global Risks Multiple Downside Risks 6

7. Inflation and Monetary Policy Headline Higher for Longer; Core Persistent; Steep Interest Rate Increases 7

8. U.S. Interest Rate Increases More Hawkish Fed Reaction, More Adverse Impact on Vulnerable EMDEs 8

9. Growth Scenarios for 2023-24 Global Financial Stress Accompanied with Weaker Growth 9

10. Fiscal Challenges in LICs Rising Debt; Increasing Interest Payments; Deteriorating Fiscal Balances 10

11. Global Challenges Larger Impact of Climate Change; More Fragmented Creditor Space; More Barriers to Trade 11

12. Questions & Comments June 2023 www.worldbank.org/gep 12

13. Studies by the World Bank Prospects Group 13