SOGEI website background

July 2022 Sovereign Mid-Year Outlook

July 2022 Sovereign Mid-Year Outlook

Growth in the global economy is expected to slow to around 3.1% in 2022, compared with the 4.5% expected this year under our December 2021 projections. We forecast 3.6% global growth for 2023 with the skew of risk for our outlook remaining on the downside entering the coming year. Current stagflationary conditions hold both positive and negative impacts for sovereign ratings, with more sovereign borrowers seeing downside rating actions than upside actions since the escalation of the Russia-Ukraine war. […]