As the global economy began to recover from the effects of the Corona virus, the war broke out between Russia and Ukraine to cast a shadow over the global economy, which still suffered from stagnation and inflation.
Crisis year
Ryan Lemond, co-founder and CEO of New Vision Wealth Management, told Sky News Arabia:
- Between 2020 and 2022, the global economy witnessed crises and events that negatively affected it.
- Central banks were late in dealing with inflation, which will continue and go through its normal stages.
- Interest rates will reach 5.5 in America, and the US Federal Reserve will cut its budget.
- The assets that managed to survive in 2022 are private investments and cash.
- The US dollar has also been a safe haven for investors.
- GCC equity markets, private investments and commodities will be successful assets in 2023.
Food security
Rania Al-Mashat, Egyptian Minister of International Cooperation, told Sky News Arabia:
- The Russian-Ukrainian war after the Corona crisis severely pressured the fiscal space in the countries contributing to international institutions.
- Focusing on regional cooperation has become a priority for countries.
- It is necessary to think about diversifying financing tools.
- Food security has become an international challenge, and therefore the issue of diversifying food sources has become extremely important.
- Investing in agricultural projects has become a priority at the international level.
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