Economic Review Global Economic Analysis The rate of global economic growth continued to experience pressure. After experiencing recovery after the Covid-19 pandemic, the global economic growth trend slowed down again in 2022. Global economic growth was recorded at around 3.5% in 2022, lower than the previous year’s achievement of 6.3% in 2021. This was caused by a combination of pressures. High global inflation due to supply chain disruption and very significant increased in benchmark interest rates by various central banks in the world, especially the Fed. The trend of slowing global economic growth is expected to continue in 2023 and 2024. The IMF as of January 2024 estimates that global economic growth in 2023 and 2024 will be 3.1% and 3.1%, respectively (Figure 1). Figure 1. World Economic Growth Projections (%) 3 3.1 3.2 3.4 3.5 3.3 2.9 2022 2023 2024 2025 Source: IMF, January 2024, Data processed 3.5 3.1 3.1 3.2 PT Bank Rakyat Indonesia (Persero) Tbk. 2023 Annual Report 186
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