This report highlights the challenges facing the global economy, including high inflation, financial tightening, the Ukraine crisis, and the ongoing COVID-19 pandemic. Global growth is expected to slow significantly, with a forecast of 2.7% in 2023. Risks to the outlook are predominantly on the downside, including potential miscalculations in monetary policy, divergence in policy paths among major economies, and a potential resurgence of COVID-19. To mitigate these risks, the report suggests maintaining monetary policy to restore price stability, implementing fiscal policy to protect vulnerable groups, and intensifying structural reforms to improve productivity and support the green energy transition.