Baton Hand-Off: Economic Headwinds and Expected Resilience

Global Economic Landscape, no dramatic rebound in sight
Based on series of projections, global GDP growth is projected at between 1.5 – 2.8%
in 2023. The factors influencing these forecasts are similar. They include fragile
economic conditions, higher-than-expected inflation figures, abrupt spikes in interest
rates, subdued investments, a resurgence of the COVID-19 pandemic and escalating
geopolitical tensions. Global GDP growth is expected to pick up in 2024 but likely to
remain below the pre-pandemic level.

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