There is a possibility of recession all over the world next year. A third of those surveyed by Russell Investments Fixed Income said a recession could happen by next year. 27 percent believe that in 2024 the whole world may face a recession. 28 percent of the people surveyed said this is possible only after 2024. Two-thirds of fund managers expect US core inflation to remain at 3.4-5% over the next year, much higher than the central bank's 2 percent range here. Gerard Fitzpatrick, head of fixed income at Russell Investments, said, "There is a risk of recession, but there are differing views on timing."
IMF also expressed apprehension
International Monetary Fund (IMF) chief Kristalina Georgieva has said that the possibility of a possible global recession next year cannot be ruled out. The risk of recession for all the world's economies has deepened after April. In the coming weeks, the IMF may bring down the growth forecast of the world economy to 3.6 percent for the third time.
58 percent accepted high inflation and weak growth
In the survey, 58 percent of the people said that their concern is about high inflation and a weak growth rate. The risks have also increased in recent weeks. For this bond investors are preparing for a sharp recession. On the other hand, there has been a sharp rise in crude oil prices over the last two days and it has gone beyond $100.
Crude oil prices may go up to $ 65
Amid fears of recession, the price of crude oil has fallen drastically in recent times. Foreign brokerage firm Citi has claimed that crude oil prices may fall to $ 65 a barrel by the end of this year. Citi claims that crude oil prices may fall next year as well. It could go up to $45 by the end of 2023.
Relaxation in the rules for bringing the foreign exchange to stop the fall in the rupee
To contain the fall in the rupee, the RBI on Thursday issued a notification regarding foreign investment in the bond market and relaxing the provisions of banks' foreign currency loans. Economic Affairs Secretary Ajay Seth said that the steps taken by the central bank will increase the inflow of foreign institutional investors. This will strengthen the rupee against the dollar. The rupee has lost 4.1% in the past few months. agency
These steps have been taken
ECB limit was raised from $750 million to $1.5 billion through an automatic route.
Exemption for foreign portfolio investors to invest in government securities of 7 and 14 years.
Relaxation in provisions relating to CRR and SLR on NRE deposits to banks.
Banks can use the money raised from loans taken in foreign currency for foreign currency lending in India.
7.10 crore people are in poverty due to inflation
710 crore people in the world have come under poverty due to inflation. The United Nations Development Program (UNDP) in its report cited the Russo-Ukraine war as the reason. According to the report, 5.16 crore people living on $1.90 (Rs 150) per day became poor in the first three months of the war.
Together, 9% of the world's population has become poor. The number of people living on less than $ 3.20 (Rs 253) per day has also increased by 20 million. Low-income families spend 42 percent of their earnings on food items. Poverty increases rapidly due to the increase in their prices.
cause of inflation
Ukraine's ports were blocked by the war. Grain exports hindered and rising oil prices.
more impact on these countries
Haiti, Argentina, Egypt, Turkey, Philippines, Rwanda, Sudan, Kenya, Sri Lanka, Uzbekistan, Afghanistan, Ethiopia, Mali, Nigeria, and Yemen.
Also Read: Fintech Companies: China is running many fintech companies, earning 940 crores black
India-Canada: A big conspiracy is being hatched from eight cities in Canada, intelligence agencies warned the government
A conspiracy is being hatched from eight cities in Canada to fuel the Khalistani campaign in Punjab. Some Gurudwaras of Canada are also being used for this. Intelligence agencies have warned the
'I have been a Sadhvi since childhood and will remain so in future too...', Mamta Kulkarni resigned from the post of Mahamandaleshwar of Kinnar Akhara.
Bollywood actress Mamta Kulkarni has today resigned from the post of Mahamandaleshwar of Kinnar Akhara. Ever since Mamta was made Mahamandaleshwar, a new controversy has arisen, after which she has
Coldplay Concert: Craze of Coldplay concerts, hotel prices touched the sky
All the world's popular bands in India are eagerly waiting for Coldplay's show. However, the fans of Cold Play were very disappointed when the popular band's Mumbai show tickets were sold in a few
Modi government's big decision on One Nation-One Election, preparations to bring three bills; know the plan
The central government is very serious about one country's election. The government is likely to bring three bills to conduct simultaneous elections of Lok Sabha, Legislative Assembly, and local
Car rams into devotees in Maharashtra's Solapur: 7 killed, many injured; CM announced to give 5-5 lakhs to the families of the victims
In Solapur, Maharashtra, 7 devotees were killed and several others were injured after they were hit by a speeding car on Monday evening. According to media reports, the group of devotees was going
PK claims – Nitish will join NDA again: Said – Chief Minister is constantly in touch with BJP, can return anytime
Prashant Kishor, who was an election strategist, made a big claim about Bihar Chief Minister Nitish Kumar. "Nitish is in touch with the BJP. He can go with BJP anytime. They haven't closed the doors
Rajasthan New CM: Rajasthan CM may be announced soon, BJP will announce observers today!
After the counting of votes in Rajasthan on December 3, the BJP government won power in the state. After the landslide victory in Rajasthan, many discussions are going on regarding the names of the
Mumbai: MP Shinde hit out at Uddhav Thackeray's statement, saying - dragging a child is following Hinduism?
During a program at Shivaji Park, Uddhav Thackeray targeted Chief Minister Eknath Shinde and his son MP Shrikant Shinde, saying that the CM's grandson will soon be eyeing the post of councilor. On
Nitin Desai: Art director Nitin Desai was found hanging in his studio, fear of suicide
Art Director Nitin Desai Committed Suicide: Nitin Desai, a well-known art director of Bollywood and Marathi cinema, committed suicide around 4 am on Wednesday. If reports are to be believed,
Odisha Teachers Protest: Demonstration of primary school teachers in Odisha, demand for regularization of the service period
Odisha Primary School Teachers Protest: Odisha's primary school teachers protested in Bhubaneswar today. The teachers put forth three-point demands, including regularization of their six-year service