Economic Forecasts For 2023 Against The Background Of The Current Geopolitical Context

The military conflict in Ukraine has induced globally relevant political, economic and social transformations. The year 2023 will be characterised by a global recession, with direct effects on the unfavourable development of economic indicators worldwide. The continuation of the conflict in Ukraine, including in 2023, will have negative repercussions on international economic relations and global political polarisation will influence economic indicators and the world economy in general. In terms of the global economic downturn, this will directly affect the economy and the population and resilient measures are needed to overcome this economic crisis. From a social point of view, it is the low and middle income population that will suffer the most from the social impact, with soaring inflation and rising prices for utilities, fuel and basic goods, especially food. In order to emerge quickly from the crisis, pro-active measures are needed based on identifying the best solutions to reduce inflation and measures to protect the vulnerable population by granting economic and fiscal incentives.