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Added on the 26/07/2022 16:33:49 - Copyright : AFPTV - First images
The EU hikes its eurozone growth forecast for 2023 from 0.3 to 0.9 percent on the back of lower gas prices, with EU Commissioner for Economy, Paolo Gentiloni, announcing that the "EU economy is thus set to narrowly escape the technical recession that was projected back in autumn," at a conference in Brussels, Belgium. SOUNDBITE
Global growth is expected to slow further next year, the IMF says, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiraling cost-of-living and economic downturns. SOUNDBITE
IMF chief Kristalina Georgieva warns that if central banks move too aggressively to tamp down price pressures, it could trigger a "prolonged" economic downturn. SOUNDBITE
IMF chief Kristalina Georgieva warns the global recession risks are rising and urges policy action "to regroup and to rethink how can we adopt a more proactive precautionary mindset that we had in the past." SOUNDBITE
A perfect storm of doom has been pummeling the global economy in recent months, undermining global growth expectations, but the IMF warns the worst-case scenario is plausible, which would cut growth to one of the lowest levels in the past five decades. SOUNDBITE
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