Where is the global economy heading in 2023? After all the challenges of last year, it’s a question we ask with trepidation. Just as the economy was dealing with the ongoing effects of the COVID-19 pandemic, Russia’s invasion of Ukraine in February ramped up inflation.
Significant rises in the cost of vital items such as food and energy created a cost of living crisis that has engulfed households and businesses. Central banks reacted with a raft of interest-rate hikes, while a wave of industrial action saw workers in many countries fighting for pay and conditions to keep pace with this new economic era.
