The Straits Times says
Digital services offer hope amid gloom
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Two recent reports by the International Monetary Fund (IMF) and the World Trade Organisation (WTO) offer a sobering prognosis for the growth of both the global economy and world trade in 2023, which should be of some concern to trade-dependent economies like Singapore. There is, however, a silver lining.
In its latest World Economic Outlook, the IMF projects that global GDP growth will decline to 2.8 per cent in 2023, from 3.4 per cent in 2022, with the slowdown being especially pronounced in advanced economies where growth will more than halve to 1.3 per cent from 2.7 per cent in 2022.
