The Turkish edition of Yeni Şafak identified three major shocks facing the global economy this year. They were record inflation, the energy crisis and a slowdown in growth. Prime news agency quotes the assessment of the publication.

Inflation, which jumped to about 10%, has become one of the biggest problems for both developed and developing countries. It hit the purchasing power of citizens and also triggered aggressive interest rate increases by global central banks, resulting in slower economic growth, stagnation, falling living standards and employment. Another major negative factor of the passing year was the energy crisis, which, according to the publication, will have an impact on the next year as well.

The economic crisis, which erupted in the wake of the coronavirus pandemic, combined with high interest rates, led to a slowdown in global economic growth. In 2023, the main challenges will be to fight the recession, accelerate growth, improve living standards, and make up for the economic and social losses of the past year.