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The war in Ukraine worsened the global economic outlook. Inflation is setting records in the EU and the rest of the world, especially in terms of food and energy prices. The economic outlook worsens when adding the consequences of the sanctions imposed on Russia and the increase in interest rates both in the US and the European Central Bank, among other economic problems that cause uncertainty among investors due to the fear of a recession.
The increase in interest rates, both by the United States and by the European Central Bank, as well as a slight setback in China’s economic growth, largely due to the closure of some of its companies due to its Covid policy zero, is generating uncertainty among investors.
The general director of the International Monetary Fund, Kristalina Georgieva, admitted a gloomy scenario in the coming months and does not rule out a recession, something that the OECD does not do either. However, European institutions and finance ministers are confident that it can be avoided, as long as Russia does not completely cut off gas supplies to European citizens.
Although Brussels is not so optimistic and, according to its calculations, these risks could cause the decrease. The European Commission, for the moment, believes that the concern can be overcome thanks to the post-pandemic post-pandemic recovery plan, which injects public and private money into the countries.
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