The world is currently experiencing a difficult economic period due to the increase in inflation and economic stagnation, which is worsening with the advent of the winter season, as it is expected that Europe will witness a very difficult winter due to the lack of fuel after Russia announced that it would stop supplying Europe with gas, which further complicates the matter.
The world has not yet recovered from the Corona crisis, as it is currently facing another challenge of economic recession . according to IMF ( International Monetary Fund ) for the inflation and uncertainty reefers to global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. The financial policy should stay on the path to restore price strength, and fiscal policy should aim to alleviate the cost-of-living pressures while maintaining a satisfactorily closed to aligned with monetary policy.
The situation of poor countries and emerging economies are more dangerous because they face many challenges related to developing and raising the standard of living for their members. With the increase in inflation, it has become challenging to increase financial support for individuals, and others are threatened with losing their jobs.
From your point of view ,
HOW DOES THE WORLD GET OUT OF THIS CRISIS ?
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