NEW YORK, Nov. 2, 2022 /PRNewswire/ — The interconnected challenges of worldwide safety partnerships, monetary integration, provide chain resilience, and migration are not simmering in the background. They at the moment are prime of the agenda and will probably proceed to keep there in the yr forward, in accordance to a brand new S&P Global Market Intelligence report launched right now. The newly revealed report, 2023 Economics & Country Risk Outlook, is a part of S&P Global Market Intelligence’s Big Picture 2023 Outlook Report Series.
The new report highlighted that getting into 2022, the query on many minds was the tempo of the pandemic restoration. Russia’s invasion of Ukraine earlier this yr dashed hopes of a easy restoration. Instead, the battle in Ukraine hastened a confrontation with a number of geopolitical dangers and reworked Europe’s near-term safety and financial image. Next yr, central banks in main economies will stay centered on inflation, with the influence of rates of interest including additional stress on shoppers. Tightening monetary situations will lead to an additional slowdown in international financial development, placing expansions in weak areas in danger and deepening anticipated recessions in Europe.
“Looking ahead to 2023, European energy security will remain a source of near-term risk, clouding the economic outlook,” mentioned Dr. Lindsay Newman, Head of Geopolitical Thought Leadership at S&P Global Market Intelligence. “This dynamic reflects a broader trend we are watching of operational, political and security risks underpinning the economic landscape for 2023.”
Key highlights from the report embody:
- With Ukraine’s fall counteroffensive and given its place to get better the territory Russia has annexed since 2014, the battle seems to be set to proceed deep into 2023, with few politically palatable off-ramps accessible for Russian President Vladimir Putin.
- Entering 2023, a lot is dependent upon the severity of the European winter, on probably additional sanctions, and on prospects for international measures being thought-about to cap the value of Russian oil. Economic and vitality safety issues will drive short-term mitigation methods in Europe, rising fiscal, social, and political challenges for governments – particularly these going through scheduled elections in 2023 (Poland, Finland, Estonia, Greece).
- Tightening monetary situations will lead to an additional slowdown in international financial development, placing expansions in weak areas in danger and deepening anticipated recessions in Europe. The mixture of subpar financial development, rising unemployment, and bettering provide chain situations will finally trigger inflation to subside over the following two years.
To request a replica of the 2023 Economics & Country Risk Outlook, please contact [email protected].
S&P Global Market Intelligence’s opinions, quotes, and credit-related and different analyses are statements of opinion as of the date they’re expressed and not statements of truth or advice to buy, maintain, or promote any securities or to make any funding selections, and don’t tackle the suitability of any safety.
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