Outlook for 2023 = Positive or Negative ?

As we draw to the end of 2022, one can only say what a volatile and topsy-turvy year it has been. The year started with lots of hope as everybody was coming out of the Covid fear. Unfortunately, the Russia – Ukraine conflict led to a crisis again in the world with the resulting spike in energy prices, inflation, interest hikes, and recessionary conditions.

The world`s largest economy – the USA faced a peculiar situation of a strong job market as well as rising inflation leading to interest rate hikes spooking the global economy. Europe has been majorly hit by the gas shortage, from the Russian conflict, and is supposedly in a deep recession. China saw lockdowns from Covid and when things were going right, it has seen a sudden wave of Covid emergence again. Global bond markets outlook portends weakness as we move to 2023.

However, everything is not all that gloomy.

1. India has been a bright spot in the global economy thanks to strong consumer spending as well as infrastructure spending.
2. The world cup football tournament was held very successfully in Qatar despite all the negativity to start off with. An African nation -Morocco, made it to the semi-finals of the world cup for the first time ever and globally people shed tears of joy as Lionel Messi lifted the football world cup at the fag end of his career.
   
3. Thanks to the fossil energy crisis, the world has fully realized the potential of renewables which is a great omen for the future.
   
4. Russian President Vladimir Putin has given indications of ending the war.  

As we enter 2023, I am personally inclined to look at the positive trends. Let’s hope that we all have a better year in 2023 and that prosperity and peace prevail.

Merry Xmas and Happy New Year 2023!!

Cheers
#2023, #worldeconomy ,#peace