Where Canada stands if the global economy weakens

The newest forecast for the worldwide financial system exhibits a grim outlook of the world torn by the COVID-19 pandemic and Russia’s struggle in opposition to Ukraine. Nearly all nations are anticipated to expertise slower progress in 2022-23 because of the ongoing Russia-Ukraine struggle, based on a latest report by the Group for Financial Cooperation and Growth (OECD). With the continuing Russia-Ukraine struggle, OECD lately lowered its estimates for international progress, slashing it to three per cent in 2022 from 4.5 per cent projected final yr. In 2023, the worldwide progress is estimated to say no additional to 2.75 per cent. Present inflation throughout OECD nations in 2022 is 9 per cent, twice its earlier projections. The group stated that … Read more