WEF survey: two-thirds of global economist predict economic weakness in 2023

by Seth Udinski

Seth Udinski, FISM News

Nearly two-thirds of the leading international economists predict a dim global economy in 2023, and with it a potential recession according to a recent poll.

The data came from a survey conducted by the World Economic Forum (WEF) in the last two months of 2022, which polled 22 of the leading international voices on the economy. The findings were released this month.

The report reads, in part,

Almost two-thirds of respondents consider a global recession to be likely in 2023, including 18% who consider it extremely likely, more than twice as many as in the previous survey in September 2022.

The poll included data on the economists’ prediction for the economic outlook of specific regions in the 2023. The majority of experts believe that the outlook is dim for both the United States and Europe. Of those polled, 91% of correspondents believe economic growth will be weak in 2023. For Europe, every single correspondent answered in kind, with 68% believing it to be “very likely.”

In terms of monetary policy, 55% believe the U.S. will tighten its policy, along with 59% who believe it will be the same in Europe.

The poll also included data to predict a grim economy from various sectors, including energy, food, and business.

Author’s Biblical Analysis

When we hear the dim reports coming from some who are regarded as the top experts in the economy, there is a temptation to panic. We see skyrocketing prices and continually rising debt, and it can cause us to take our eyes off what really matters and focus on the chaos around us.

Friends, I do not want to downplay the seriousness of the situation around us. Nor do I think we should be indifferent to issues that impact us or ignore the reality of our surrounding circumstances. But I do believe that we can easily lose focus on what really matters, and I believe it would do us well to return to what is most important.

What is most important is this: God is on the throne, and He will provide for His people.

Friends, let me share with you a bit of truth that we hear all the time and somehow manage to forget all the time: God is not surprised by any of this. God, sovereign over all things, is working His good plan and purpose in the midst of economic chaos.

This is what God does, by the way. He brings order to chaos. He did it in creation. He did it over and over again for the people of Israel, and He does it for us in a salvific way every time a sinner turns from their sin and trusts in Him.

Everything in this world belongs to the Lord. We must remember, with confidence, that God, who is our loving Father, will not abandon the needs of His children. Consider the words of Jesus Christ:

Are not two sparrows sold for a copper coin? And not one of them falls to the ground apart from your Father’s will. But the very hairs of your head are all numbered. Do not fear therefore; you are of more value than many sparrows.  – Matthew 10:29-31

Does this mean God will give us everything we want, fulfilling our every desire? Absolutely not. We should be thankful for this, by the way, because very often our desires lead us to destruction.

Instead, we are confident that God will give us everything we need. Most of all, we see that God’s main focus is not even on our physical needs, but on our spiritual needs. God’s ultimate goal is for His children to be free from sin because He loves us.

So be confident in this. God will provide all that you need. Remember: if you trust in Him as your Savior, your greatest need has already been met.

For every beast of the forest is Mine, And the cattle on a thousand hills. I know all the birds of the mountains, And the wild beasts of the field are Mine.  Psalm 50:10-11