As costs rise and funding drops due to the global economic slowdown, development organizations are hunting for ways to use their resources better and prepare for a potential recession.
The ripple effects of COVID-19 and Russia’s war in Ukraine have together pushed up food and fuel prices and set off a global cost of living crisis, with high inflation and interest rates slowing down the world economy.
At the start of the year, the International Monetary Fund predicted that “half the European Union” might enter recession. The United States may or may not follow suit, and it seems likely that the United Kingdom, at least, will see its economy contract this year.