According to the Centre for Economics and Business Research (CEBR), a global will start in 2023. A global recession is predicted by other agencies as well to begin in 2023. New borrowing costs put in place to fight Inflation cause several economies to shrink. According to the British consultancys annual World Economic League Table, the global economy topped $100 trillion for the first time in 2022 but will halt in 2023 as governments continue to struggle against growing costs.
The global gross domestic product will have doubled by 2037 as developing economies catch up to the wealthier ones. According to Bloomberg, the East Asia and Pacific region will produce more than a third of the worlds output by 2037, while Europes share will drop to less than a fifth as a result of changing power dynamics.
The data from the IMFs World Economic Outlook and an internal model serve as the foundation for the Centre for Economics and Business Researchs estimates of Growth, inflation, and currency rates.