‘War in Ukraine will last all of 2023, there may be blackouts in EU,’ FT forecasts

31 December 2022, 12:12 PM
Armed Forces of Ukraine (Photo:facebook.com/GeneralStaff)

Armed Forces of Ukraine (Photo:facebook.com/GeneralStaff)

Ukraine’s war will drag on through the whole of 2023, and the European Union may also see widespread power outages due to gas shortages, writers of the UK newspaper the FinancialTimes said in forecasts for 2023 published on Dec. 31.

They also believe protests by citizens in Iran against the country’s ruling regime will continue.

According to the FT, in 2023:

Russia’s war against Ukraine will continue throughout the year.

Blackouts in the EU may begin as soon as April, if the weather is cold. According to FT analysts, it will not be easy for the EU to replenish its underground gas storages after the end of the winter season.

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Global warming will not reach the 1.5-degree threshold until the end of the year, but it could happen by 2024. According to the analysts’ estimates, the planet warmed by 1.1 degrees compared to the average temperature in 2011-2020.

The U.S. Federal Reserve will not cut interest rates. By the end of 2023, they may grow by more than 5%. The analysts noted that the Fed has warned of plans to continue raising rates.

UK Prime Minister Rishi Sunak will keep his position. According to the FT, Sunak is “more resilient” than his predecessors Boris Johnson and Liz Truss. At the same time, they believe that he can deal with pressure from members of the Conservative Party.

The European Central Bank (ECB) will not support the bond markets of Italy and other EU countries. According to the FT’s predictions, the yields of EU bonds will be limited, but the ECB will not provide them with support.

U.S. President Joe Biden will run for re-election. FT analysts believe that a Biden second term could be the most successful option for the Democratic Party.

Former U.S. President Donald Trump will be indicted. The newspaper notes that the U.S. authorities have four reasons for this: an attempt to subvert the outcome of the 2020 presidential election, storage of classified documents after the end of the president’s term of office, pressure on the representatives of the state of Georgia in the elections, and fraud.

China will be able to achieve economic growth of more than 5% by the end of 2023. According to the FT, economic activity in the country will resume when the authorities can introduce a more liberal policy to combat the coronavirus.

China will not attack Taiwan. FT analysts believe that if an invasion does take place, it will not be in 2023, but later.

Turkish President Recep Tayyip Erdogan will keep his post after elections in the summer of 2023. According to the FT, for this, he could use honest and dishonest methods to win. His next term could worsen Turkey’s economic problems.

Protests in Iran will continue due to the consequences of Western sanctions. Rallies show Iranian citizens are tired of the current government, the FT wrote.

FT analysts also believe that Twitter will retain its audience despite the social network’s problems after its acquisition by businessman Elon Musk. In addition, FT analysts expect at least one more major cryptocurrency business will fail in 2023.

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