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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

World Economy Faces More Pain in 2023 after a Gloomy Year

Economy Inflation eurozone OECD Pandemic
People queue for food at a soup kitchen in Peru. Ernesto BENAVIDES / AFP

This was supposed to be the comeback year for the world economy following the Covid pandemic.

Instead, 2022 was marked by a new war, record inflation and climate-linked disasters. It was a "polycrisis" year, a term popularized by historian Adam Tooze.

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