A world without poverty is the number one goal of the 2030 Agenda for Sustainable Development. Yet, poverty risks have been exacerbated globally in recent years, due to both the COVID-19 pandemic and the Russian war on Ukraine. Researchers currently estimate that between 760 and 873 million people around the world will be living in extreme poverty in 2022.
According to Geostat’s updated estimate, the Q3 2022 growth rate stands at 9.7%. As a result, the real GDP growth estimate for the first nine months of 2022 is 10.2%.
On 28 October, Giorgi Papava, lead economist at ISET’s Policy Institute, took part in an event organized by the Institute for the Development of Freedom of Information (IDFI), the main topic of which was the 2023 budget project.
ISET-PI’s forecast of real GDP growth for the third quarter (July-September) of 2022 decreased by 0.1 ppt to 16.4% compared to the last month’s prediction. The third estimate for the fourth quarter (October-December) growth forecast remains unchanged at 17.3%.
Following the tentative recovery observed in 2021, global economic conditions worsened significantly in 2022 (IMF, July 2022). Russia’s invasion of Ukraine on 24 February 2022 caused global economic growth estimates to drop for the first time since 2020.