The International Monetary Fund (IMF) has raised its global growth forecast for this year from 2.9 percent to 3.1 percent, citing a resilient U.S. economy, the Chinese government’s policy actions to revive its economy, and strength in some large emerging economies, including Brazil, India, and Russia.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
Although Germany’s economy contracted by 0.3 percent in 2023’s fourth quarter, the 20-country Eurozone’s GDP neither shrank nor grew during the period, according to figures reported by Eurostat, the zone’s statistics office.