Adejumo Toluwanimi

 The World Economy Situation The World Economy is the Global Economy that affect the Nations of the World,we are in Globalization era, therefore world economies activities like trading,Forex, manufacturing, affect each countries one way or the other. The World Economy is in the stage of rising inflation, rising unemployment and slower growth, The rising cost of living is caused by many factors from energy cost, Russian -Ukraine war and the gradual recovery from COVID-19 effect, the economy of the world is still in slower growth even among the developed countries of the world, countries such as U.S.A,UK, China, France is battling with rising inflation and unemployment, the situation of the economy downturn is even worst in developing countries because the government has no social benefits, welfare care for the poorest and less previledge in the country, with the current world economy downturn the less previledge and the poorest suffer a lot, there's decrease in the per Capita income and purchasing power of the average citizens of developing countries. These present economy downturn makes the poor become poorest and the rich become richer, with the high rate of unemployment and massive layoffs this will make some individual and households to struggle for endsmeet. This harsh Economy situation is affecting everyone, from Nations to Government, businesses, Corporations,households,individuals,IMF expect one third of the world economies to be in recession, the three big economies which are US,China,EU are also part of their projections,IMF predict that even for countries that are not in recession "it would feel like recession for hundreds of millions of people" half of the European union will be in recession according to Kristalina Georgieva IMF Chief. The Global growth is forecast to slow from 3.2% in 2022 and 2.7% in 2023, This is the weakest growth profile since 2001 according to IMF, the 3 major economic trends are; the unemployment rate, consumer spending and G.D.P, all these major factors are negative in many countries of the world. One Could Wonder when will the world economy start to boom, thrive and grow again,as we move on in this 2023, we hope that the world economy will bounce back again and government, countries will start putting in place policy that will make the economy to grow and corporation bringing strategies and plan for their companies to grow one would be optimistic that their should be improvement in the world economy.