The greatest energy crisis that since 1970s will cause a severely slowdown.

Compared to the OECD’s September predictions. It predicted that global economic growth would fall from 3.1% this year to 2.2% next year before picking up again to 2.7% in 2024.

Germany, a regional powerhouse whose industry-driven economy is heavily dependent on Russian energy exports, was expect to fall by 0.3% next year, according to the OECD. Which is less dismal than the 0.7% decline forecast in September

Europe economy forecast for 2023 ?

The French economy, which is significantly less dependent upon Russian gas and oil, is predict to rise by 0.6% next year, despite varying outlooks even within Europe

Outside of the euro zone. It was predicted that the British economy will contract by 0.4% in 2019 as a result of rising interest rates, soaring prices. 

Inflation was project to decline across OECD countries in more than 9% this year to 5.1% in 2024 as tighter monetary policy takes hold and pressures on energy prices relax.

The OECD stated that the high cost indicate that such support would need to be carefully target moving forward.