3 July 2023
The global economy faces a bleak future. High inflation and financial risks loom large. Purchasing power has declined, and there’s a risk of a vicious cycle of rising prices. Financial stability is threatened by excessive debt and asset prices, putting weak banks and non-bank institutions at risk. Shaky government finances worsen the situation. Policymakers must prioritize price stability and implement regulations to ensure financial institution safety. Fiscal consolidation and long-term structural reforms are essential. Without change, trust in policymaking and economic prosperity will be lost.