Through a glass darkly – a bumpy 2023 awaits the global economy

Possible recession, China’s Covid-19 troubles, oil price woes and an enduring crypto winter are just some of the known trouble spots ahead.

Most economists agree that economic growth will slow down almost everywhere. PHOTO: AFP
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Baseball player-cum-philosopher Yogi Berra was famously quoted as saying: “Prediction is difficult, especially about the future.” When it comes to year-end economic crystal ball gazing, this is doubly true.

A discussion among three economists, for instance, is likely to yield five opinions, each with several qualifications. Economists find it hard to agree on even present conditions, let alone the future, about which they are often wrong – but undaunted, they still make predictions. So let’s see what they have to say about likely developments in 2023.

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