How can businesses prepare for economic turbulence in 2023? Chief economists give their views

The World Economic Forum Chief Economists Outlook, January 2023 finds that growth prospects remain anaemic and the risk of a global recession is high. The IMF expects around a third of the global economy to enter a recession in 2023 and it has cut its forecast of global GDP for the year to 2.7%. We ask three chief economists how business leaders can best prepare their organizations to weather the economic storms ahead. Almost two-thirds of economists surveyed by the World Economic Forum expect there will be a recession in 2023. So what does that mean for businesses? In a world of ‘polycrisis’, how can companies pivot to resilience, while staying profitable and sustainable? These are some the questions that will be discussed during the Forum’s Annual Meeting in Davos – and in the months ahead. A survey of leading economists for the Forum’s latest Chief Economists Outlook gauged views about some of the likely headwinds that businesses are going to face in 2023 – as well as the most effective responses to these headwinds and sources of optimism. It finds that the outlook for the global economy is gloomy, with almost one in five respondents now considering a […]

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