Not Only Indonesia, IMF Projects Slower Economic Growth in Several Countries in 2023

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Cindy Mutia Annur 12/04/2023 20:31 WIB

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According to the April 2023 edition of the World Economic Outlook (WEO) report, the International Monetary Fund (IMF) projects that economic growth in several countries will slow down this year.

IMF's Projected Economic Growth for Several Countries (2022-2023)

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Not Only Indonesia, IMF Projects Slower Economic Growth in Several Countries in 2023

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IMF's Projected Economic Growth for Several Countries (2022-2023)

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Based on the April 2023 edition of the *World Economic Outlook (WEO)* report, the International Monetary Fund (IMF) projects that global economic growth will slow from 3.4% in 2022 to 2.8% in 2023.

This economic slowdown will also affect Indonesia. The IMF projects Indonesia's economic growth to reach 5% in 2023, a slowdown from the 5.3% projected for 2022.

Besides Indonesia, the IMF also projects a slowdown in economic growth for several other countries this year. For example, India's economic growth is projected by the IMF to slow from 6.8% in 2022 to 5.9% in 2023.

Nigeria's economic growth is projected to slow from 3.3% in 2022 to 3.2% in 2023. Saudi Arabia's economic growth is projected to slow from 8.7% last year to 3.1% this year.

Turkey, Mexico, the United States, Canada, Brazil, and the United Kingdom are also projected to experience a slowdown in economic growth this year, as shown in the graph above.

According to the IMF, the economic turmoil experienced in 2022 will continue throughout this year, but with varying intensity.

The global monetary organization assesses that the global economy this year still faces many challenges, such as high debt levels and persistent geopolitical tensions in several countries.

"Although food and energy prices are starting to fall, the world also faces risks from the recent increase in uncertainty in the financial sector," the IMF report stated on Wednesday, April 12, 2023.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Not Only Indonesia, IMF Projects Slower Economic Growth in Several Countries in 2023

Not Only Indonesia, IMF Projects Slower Economic Growth in Several Countries in 2023

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Not Only Indonesia, IMF Projects Slower Economic Growth in Several Countries in 2023

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