Global Economic Outlook: Finance Pros See Brighter Future, but Still Face Risks and Challenges

Recent research by ACCA and IMA has shown that finance professionals are feeling more optimistic about the global economy. The Global Economic Conditions Survey (GECS) revealed an increase in confidence, with positive trends for new orders and employment. This indicates a promising outlook, despite concerns about rising operating costs.

Jonathan Ashworth, Chief Economist at ACCA, emphasized that while the findings are encouraging, there are still risks and challenges facing the global economy. Growth is expected to be below average in 2024, and central banks should proceed cautiously with any monetary easing due to concerns about increasing costs. Despite positive trends, worries about operating costs persist, particularly in Africa, Asia Pacific, and South Asia.

Additionally, talent scarcity and cybersecurity risks were identified as major concerns for businesses worldwide. While the study suggests an improving outlook for the global economy, it’s important to remain vigilant about these potential threats to growth and stability.