Review of Business and Economics Studies / Вестник исследований бизнеса и экономики, 2024, том 12, № 1

 Vol. 12 • No. 1 • 2024      ISSN 2308-944X (Print)  
ISSN 2311-0279 (Online) 
 
          
Review of Business and Economics Studies
DOI: 10.26794/2308-944X
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 Т. 12 • № 1 • 2024 
     ISSN 2308-944X (Print)  
ISSN 2311-0279 (Online)
Вестник исследований бизнеса и экономики
DOI: 10.26794/2308-944X
 
 
 

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Вестник 
исследований 
бизнеса  
и экономики
Куликова Лидия Ивановна,
д-р экон. наук, профессор, 
заведующая кафедрой учета, анализа 
и аудита, Казанский (Приволжский) 
федеральный университет, Казань, 
Россия
Сюй Бо,
доктор политических наук, 
профессор, заместитель руководителя, 
кафедра международной политики, 
Колледж исследований СевероВосточной Азии, Университет Цзилинь, 
г. Чанчунь, Китай
ГЛАВНЫЙ РЕДАКТОР
Селезнев Павел Сергеевич,
д-р полит. наук, декан факультета 
международных экономических 
отношений, профессор департамента 
политологии, Финансового университет, 
Москва, Россия
Липина Светлана Артуровна,
д-р экон. наук, профессор, заместитель 
председателя Совета по изучению 
производительных сил,
Всероссийская академия внешней 
торговли, Москва, Россия
ЗАМЕСТИТЕЛЬ ГЛАВНОГО РЕДАКТОРА
Сидорова Марина Ильинична,
д-р экон. наук, профессор кафедры 
аудита и корпоративной отчетности, 
Финансовый университет, Москва, 
Россия
Тимофеев Иван Николаевич, 
канд. полит. наук, доцент, Московский 
государственный институт 
международных отношений (МГИМО), 
генеральный директор Российского 
совета по международным делам 
(РСМД), Москва, Россия
Томас Сабу,
д-р философии, профессор, проректор, 
Университет Махатмы Ганди, Коттаям, 
Индия
Мавракис Димитриос,  
д-р экономики, профессор, 
Центр энергетической политики 
и развития (KEPA) Национального 
и Каподистрийского Университета Афин 
(NKUA), Афины, Греция
ВЫПУСКАЮЩИЙ РЕДАКТОР
Бочкарев Алексей Михайлович, 
канд. техн. наук, ст. науч. сотр. 
Финансовый университет, Москва, 
Россия
Редакция научных журналов 
Финансового университета
125167, Москва,  
Макгуайр Стефен,
д-р экономики, профессор, факультет 
менеджмента, Колледж бизнеса 
и экономики, Калифорнийский 
государственный университет, ЛосАнджелес, США
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экономики, факультет гуманитарных 
и социальных наук, Трибхуванский 
университет, Катманду, Непал
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Университет Альберты, Эдмонтон, 
Канада
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Беляцкий Николай Петрович,
д-р экон. наук, профессор, 
заведующий кафедрой организации 
и управления, факультет экономики 
и менеджмента, Белорусский 
государственный экономический 
университет, Минск, Республика 
Беларусь
Журнал “Review of Business 
and Economics Studies” 
(«Вестник исследований бизнеса 
Мрамба Насибу Раджабу,
д-р бизнес-информатики, 
заместитель ректора по учебной 
и исследовательской работе, Колледж 
бизнес-образования, Дар-эс-Салам, 
Танзания
и экономики») зарегистрирован 
в Федеральной службе 
по надзору в сфере связи, 
Варьяш Игорь Юрьевич,
д-р экон. наук, профессор, 
руководитель Аналитического 
центра финансовых исследований, 
Научно-исследовательский 
финансовый институт 
Министерства финансов РФ, 
Москва, Россия
информационных технологий 
Полевой Сергей Анатольевич,
д-р техн. наук, доцент, профессор 
кафедры менеджмента, факультет 
«Высшая школа управления», 
Финансовый университет, Москва, 
Россия
и массовых коммуникаций 
15 сентября 2016 г. 
Свидетельство о регистрации 
Глущенко Константин Павлович,
д-р экон. наук, главный научный 
сотрудник, Институт экономики 
и организации промышленного 
производства, Сибирское отделение 
РАН, Новосибирск, Россия
ПИ № ФС77-67072. 
Ренстром Томас,
д-р экономики, профессор, Школа 
бизнеса, факультет экономики 
и финансов,
Даремский университет, Дарем, 
Великобритания
Подписано в печать: 11.06.2024. 
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Отпечатано в отделе полиграфии 
Рубцов Борис Борисович,  
д-р экон. наук, профессор, кафедра 
финансовых рынков и финансового 
инжиниринга, Финансовый университет, 
Москва, Россия
Жариков Михаил Вячеславович,
д-р экон. наук, доцент, профессор 
кафедры мировой экономики 
и мировых финансов факультета 
международных экономических 
отношений, Финансовый университет, 
Москва, Россия
Финуниверситета  
(Москва, Ленинградский 
проспект, д. 49/2). 
16+
Сангстер Алан,
д-р экономики, профессор, Школа 
бизнеса, Абердинский университет, 
Королевский колледж, Абердин, 
Великобритания
Ильинский Александр Иоильевич,
д-р техн. наук, профессор, научный 
руководитель Института глобальных 
исследований, Финансовый университет, 
Москва, Россия
3

Review of  
Business and  
Economics  
Studies
Volume 12, Number 1, 2024
Factors Shaping the Future of the Global Economy and Finance
To Ngoc Hung, Nguyen Dinh Trung.
 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  6
Assessment of the Modern Climate Policy of the European Union
Peter V.  Alekseev.
 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  17
Exploring Work-Life Balance among Women Entrepreneurs of Food Vending 
Business in Africa
Nasibu R.  Mramba. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  25
Does Gender Define Access to Microcredit? Evidence from India
Ashraf Rehman. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  37
Factors Influencing Students’ Satisfaction at Higher Educational Institutions 
in Oman
Amani N. A.  Al Wardi, Eman N. A.  Al Wardi, Mohammed M.  Thottoli.
 .  .  .  .  .  .  .  .  .  .  .  .  .  51
Analyzing the Recording Practices in Accounting of Micro and Small 
Businesses: The Case of the Philippines
April S.  Borromeo, Rejean J.  Cervantes, Eligen H.  Sumicad Jr.. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  70
Using Machine Learning to Unveil the Dynamics of Insider Trading in 
Financial Markets
Ilona V.  Tregub, Alexander S.  Wagner. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  81

Вестник 
исследований 
бизнеса  
и экономики
№ 1, 2024
Факторы, определяющие будущее мировой экономики и финансов
То Нгок Хунг, Нгуен Динь Чунг. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  6
Оценка современной климатической политики Европейского союза
Пётр В. Алексеев . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  17
Исследование баланса между работой и личной жизнью  
женщин—продавцов продуктов питания в странах Африки
Насибу Р. Мрамба.
 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  25
Определяет ли гендерный фактор доступ к микрокредитам? 
Эмпирический анализ из Индии
Ашраф Рехман . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  37
Факторы, влияющие на удовлетворенность студентов высшими 
учебными заведениями Омана
Амани Н. А. Аль Варди, Эман Н. А. Аль Варди, Мохаммед М. Тоттоли. .  .  .  .  .  .  .  .  51
Анализ практики ведения бухгалтерского учета в микро- и малых 
предприятиях на примере Филиппин
Эйприл С. Борромео, Режан Дж. Сервантес,  
Элиген Х. Сумикад-младший . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  70
Использование машинного обучения для раскрытия динамики 
инсайдерской торговли на финансовых рынках
Илона В. Трегуб, Александр С. Вагнер. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  81

Review of Business and Economics Studies
ORIGINAL PAPER
DOI: 10.26794/2308-944X-2024-12-1-6-15
UDC 339.7,339.9(045)
JEL F3, F31, F33, F41
Factors Shaping the Future of the Global 
Economy and Finance
T. Ngoc Hung, N. Dinh Trung
Hoa Binh University, Hanoi, Vietnam
ABSTRACT
The global financial system emerged in the aftermath of World War II, playing a crucial role in the global 
economic and geopolitical landscape dominated by developed nations. However, the world is currently 
undergoing rapid changes. Developing countries are assuming increasingly important roles and positions 
in the global economy. The robust resurgence of Russia’s military and political power as a superpower, 
along with China’s rise in economic, technological, and military domains, is unveiling a new global order. 
Furthermore, the relentless development of digital technology is profoundly and comprehensively reshaping 
the economic, social, and political fabric of nations worldwide. Global issues such as climate change and 
population aging play significant roles in shaping the future of the global economy and finance. The research 
objective is to reveal and analyze the main factors shaping the future of the global economy and finance. The 
article employs a qualitative research method with analysis, synthesis and commenting on secondary sources 
of information from related studies. The authors conclude that six main relevant factors can influence the 
future of the global economy and finance: (i) the development of digital technology; (ii) geopolitical situation; 
(iii) the international role of the US dollar; (iv) climate change; (v) population aging; (vi) the inevitability of 
structural transformation.
Keywords: global economy and finance; digital technology; geopolitics; climate change; population aging; 
structural transformation; international role of the US dollar
For citation: Ngoc Hung T., Dinh Trung N. Factors shaping the future of the global economy and finance. Review 
of Business and Economics Studies. 2024;12(1):6-15. DOI: 10.26794/2308-944X-2024-12-1-6-15
ОРИГИНАЛЬНАЯ СТАТЬЯ
Факторы, определяющие будущее мировой 
экономики и финансов
Т. Нгок Хунг, Н. Динь Чунг
Университет Хоа Бинь, Ханой, Вьетнам
АННОТАЦИЯ
Глобальная финансовая система возникла после Второй мировой войны и сыграла решающую роль в глобальном экономическом и геополитическом ландшафте, в котором доминируют развитые страны. Однако 
в настоящее время мир претерпевает быстрые изменения. Развивающиеся страны берут на себя все 
более важную роль и позиции в мировой экономике. Уверенное возрождение военной и политической 
мощи России как сверхдержавы, наряду с ростом Китая в экономической, технологической и военной 
сферах, открывает новый глобальный порядок. Более того, непрерывное развитие цифровых технологий 
глубоко и всесторонне меняет экономическую, социальную и политическую структуру стран во всем мире. 
Глобальные проблемы, такие как изменение климата и старение населения, играют важную роль в формировании будущего мировой экономики и монетарной системы. Цель исследования — ​
выявить и проанализировать основные факторы, определяющие будущее мировой экономики и финансов. В статье применяется качественный исследовательский метод с использованием анализа, синтеза и комментирования 
вторичной информации из соответствующих исследований. Авторы делают вывод, что существуют шесть 
основных факторов, которые могут повлиять на будущее мировой экономики и монетарной системы, 
а именно: (i) развитие цифровых технологий; (ii) геополитическая ситуация; (iii) международная роль доллара США; (iv) изменение климата; (v) старение населения; (vi) неизбежность структурной трансформации.
© Ngoc Hung T., Dinh Trung N., 2024
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Factors Shaping the Future of the Global Economy and Finance
Ключевые слова: глобальная экономика и финансы; цифровые технологии; геополитика; изменение климата; старение населения; структурная трансформация; международная роль доллара США
Для цитирования: Нгок Хунг Т., Динь Чунг Н. Факторы, определяющие будущее мировой экономики 
и финансов. Review of Business and Economics Studies. 2024;12(1):6-15. DOI: 10.26794/2308-944X-202412-1-6-15
1. Introduction
The global financial system represents a global 
framework comprising legal agreements, institutional arrangements, and both formal and informal economic agents that collectively facilitate 
favorable conditions for international capital 
flows serving investment and trade financing 
purposes. Since its emergence in the late 19th 
century during the first wave of economic globalization, its development has been characterized by the establishment of central banks, multilateral agreements, and intergovernmental 
organizations aimed at enhancing transparency, 
governance, and efficiency in the international 
market [1–4]. By the late 1800s, global migration 
and advancements in communication technology had created unprecedented opportunities for 
growth in international trade and investment. 
However, the onset of World War I led to a contraction in commercial activities as the foreign 
exchange market became paralyzed due to inadequate liquidity. Countries attempted to counter 
external shocks through protectionist policies, 
and trade virtually came to a standstill by 1933, 
exacerbating the impact of the global Great Depression until a series of reciprocal trade agreements gradually reduced tariffs worldwide. PostWorld War II efforts to reform the international 
monetary system contributed to exchange rate 
stability and fostered record-breaking growth in 
global finance [5].
Developed countries (such as the United 
States, United Kingdom, Germany, France, etc.) 
play a significant role in the global economic and 
geopolitical landscape, and this can be attributed 
to several factors, including: (i) a market-oriented 
and open economy with a high level of technology 
and knowledge; (ii) high living standards for 
their citizens; and (iii) relatively stable political 
conditions. Despite the economic advantages 
of these nations, the world is undergoing rapid 
changes every day. New political alliances are 
being formed, creating economic development 
opportunities for countries, while the climate 
across the planet is changing, bringing new 
opportunities for the development of lessdeveloped regions in the North but exacerbating 
food crises in drought-prone areas. Developing 
countries are becoming an integral part of the 
modern world, made possible by the following 
factors: the increasing share of developing 
countries in the global economy; the rapid 
growth in the population of these countries as a 
proportion of the world’s population (mostly due 
to natural growth); the rapid rise in their political 
influence on the world stage [6].
In addition, global financial crises, the Great 
Recession, and the Covid-19 pandemic have 
spurred new discussions on the structure of the 
global financial system. These events have drawn 
attention to financial integration, shortcomings in 
global governance, and emerging systemic risks of 
financial globalization. Since the establishment 
of the international monetary system under 
the supervision of the International Monetary 
Fund (IMF) in 1945, the world has undergone 
profound changes in politics and economics. This 
has fundamentally altered the operating model 
of international financial institutions, adding 
complexity to the tasks of the IMF and the World 
Bank. Non-compliance with the official monetary 
system has created gaps in global constraints on 
national macroeconomic policies and a lack of 
ability to regulate rule-based financial activities 
[5]. In particular, recent geopolitical conflicts, 
such as the direct confrontation between Russia 
and Ukraine, indirect conflicts between Russia 
and NATO led by the United States and Western 
countries, the Gaza Strip crisis between HAMAS 
and Israel accompanied by a series of sanctions, the 
freezing of over $ 300 billion of Russia’s foreign 
exchange reserves without any precedent in “wild 
capitalism,” etc., have further divided and polarized 
the world. This inevitably affects the development 
of the global economy in general and the structure 
of the global financial system in particular. In this 
context, the study, identification, and forecasting of 
factors shaping the global economic and financial 
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Review of Business and Economics Studies
landscape in the future have garnered significant 
attention and discussion among researchers.
technology, particularly in the realm of financial 
technology (Fintech), the rise of cryptocurrencies and central bank digital currencies (CBDCs); 
geopolitical dynamics; the significance of sustainable development, particularly in the context of climate change; population aging; the 
inherent necessity of structural transformation; 
and the international role of the US dollar.
2. Literature overview
The topic of prospects for the future of the global economy and finance has always been of interest to economists and international organizations, especially since the Russian-Ukrainian 
military conflict.
Erik Feyen et al. [7] predict that Fintech, the 
application of digital technology to financial 
services, is reshaping the future of finance. 
According Tobias Adrian [8], many scholars and 
many policymakers have largely agreed that five 
key global forces will be pivotal in influencing the 
economy of the future: (i) the growth of digital 
technologies; (ii) the importance of sustainability, 
especially in the context of climate change; (iii) 
the role of changing demographics; (iv) the 
complexity of geopolitics; and (v) the inevitability 
of structural transformation. One of the largest 
European banks, the Swiss Credit Suisse, published 
a study titled “The future of the monetary system” 
[9], devoted to an analysis of the current state 
of the global financial system with a forecast 
for the future. Research highlights include: the 
position of the US dollar has weakened noticeably; 
freezing Russia’s foreign exchange reserves could 
undermine confidence in the dollar; abandonment 
of the petrodollar is unlikely, but do not forget 
about the yuan; creating an alternative global 
currency is a utopia; no national currency can 
supplant the US dollar; the world awaits a 
multipolar monetary system. Central Bank Digital 
Currency (CBDC), a digital form of fiat currency, 
is rapidly becoming a reality. The introduction of 
CBDC has the potential to be a game challenger 
for the international monetary system. CBDCs are 
entering the global arena and will likely shape the 
next evolution of money [10]. The role of the US 
dollar in the global financial system is analyzed 
in detail by Carol Bertaut et al. in the study titled 
“The International Role of U. S. Dollar” [11–12].
3.1. Development of digital technology
The development of technology, such as digitization and automation, will play a crucial 
role in promoting comprehensive and longterm growth and interacting with demographic 
changes that can reshape entire industries and 
sectors. Furthermore, the proliferation of digital assets and new forms of financial intermediation, both within and beyond borders, will 
also shape the global monetary system. Fundamentally, this factor can alter the context of 
global macroeconomic finance [8].
Financial technology (Fintech) facilitates 
growth and poverty reduction by enhancing the 
development of comprehensive and efficient 
financial systems while providing essential 
financial services for the advancement of digital 
economies. Strong advancements in technology 
are significantly transforming the financial 
landscape, bolstering the accessibility of financial 
services in more profound and comprehensive 
ways. Digital finance has enabled providers to 
overcome traditional channels and products, 
particularly in emerging markets and developing 
economies [13].
The financial market has witnessed the entry of 
independent consumer-focused fintech companies, 
new business-to-business (B 2B) enterprise 
services, and “Big Tech” companies. Existing firms 
also view technology as a strategic priority to 
enhance their products, reduce costs, and compete 
effectively.
The pace of innovative and technologydriven advancements has accelerated in the 
context of the Covid-19 pandemic, propelling 
the digitization process across various sectors, 
including finance. Businesses and individuals 
have adapted to social distancing regulations, 
seeking efficient solutions to remotely connect 
with government and corporate services. Thus, 
the Covid-19 pandemic has reinforced the clear 
trend of rapid technological progress that is 
3. Revealing and analyzing key factors 
shaping the future economy
In general, there is a broad consensus among 
scholars and policymakers that several key factors will play a pivotal role in shaping the future 
of the global economic and financial landscape. 
These factors include the development of digital 
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Factors Shaping the Future of the Global Economy and Finance
3.2. Geopolitical status
The trend towards the formation of a new world 
order continues to evolve rapidly and undergo 
complex transformations towards a “multipolar, 
multilateral” trend, with emerging entities competing for influence (such as Russia, China, India, 
etc.). This will continue to impact global trade, 
including supply chains and the financial system. With the current state of movement of major countries, the establishment of a “unipolar” 
world order (led by the United States) has failed 
due to fierce competition from other countries 
(especially Russia and China) and the inherent instability and America’s failures in foreign 
policy over 30 years after the Cold War. Because 
there was no longer a restraining role for the Soviet Union, which was a pole in the bipolar world 
order, the United States unilaterally launched 
many wars and caused many “hot spots” in the 
world. These policies and actions that go against 
international law are not only condemned by 
the world but also cause the US to consume too 
much economic, political and military potential, 
pushing itself into crisis. The first was the 2008 
crisis [16]. The United States holds relative advantages but faces challenges in establishing a 
significant, comprehensive lead over the rest of 
the world to establish a “unipolar” order. This 
could potentially alter the current multilateral context and globalization in general. Such 
changes need to be addressed through mutually accepted means based on fairness, respect 
for mutual interests, and international law. The 
increasing number of large corporations globally 
can also pose new challenges for policy-making 
in various areas, such as taxation, regulation, 
service provision, and market power.
reshaping the global economic and financial 
landscape [14].
In the next two decades, digital currencies 
will reshape the perception of money and 
its operations. Digital currencies are rapidly 
emerging due to the convergence of fundamental 
technological transformations, including 
breakthroughs in technologies such as Distributed 
Ledger Technology (DLT), cryptography, big 
data analytics, and artificial intelligence. These 
technological innovations complement each other 
and interact in ways that promote rapid change.
Digital currencies take various forms. On the 
one hand, there are innovations led by the private 
sector, such as stablecoins (e. 
g., Diem and USD 
Coin), cryptocurrencies (e. 
g., M-Pesa), and volatile 
cryptoassets (e. 
g., Bitcoin). On the other hand, 
there are digital currencies issued by central banks 
known as Central Bank Digital Currencies (CBDCs). 
CBDCs are digital currencies issued by the central 
banks of nations, under their control, management, 
and guarantee.
CBDCs are entering the global arena and will 
likely shape the next evolution of money [10]. The 
emergence of CBDCs and private cryptocurrencies 
(e. 
g., stablecoins and Bitcoin) will not only lead to 
increased currency competition but also enhance 
the complexity of governance, ranging from datarelated issues to financial stability 
1. As CBDCs 
begin to be used in international and cross-border 
payments 
2, commentators have predicted that 
“the economic borders of today will no longer be 
limited by political borders” 
3. The development, 
management, and utilization of CBDCs will 
require high levels of international interaction 
in various aspects (e. 
g., CBDC’s interoperability 
and prevention of financial crimes). According 
to the Bank for International Settlements (BIS), 
28% of surveyed central banks are considering 
options to “make CBDCs interactable by forming 
multilateral CBDC arrangements” [15].
1  Yao Q. Technological considerations of central bank digital 
currency. Yicai; March 6, 2018. URL: https://www.yicai.com/
news/5404436.html (accessed on 14.10.2023).
2 Bank of Canada, ECB, BIS et al. Central Bank Digital Currency. 
Foundational Principles and core features. 2020. URL: https://
www.bis.org/publ/othp33.htm (accessed on 14.10.2023).
3  Yeung K. China not among major central banks in talks 
on global digital currency. South China Morning Post. https://finance.yahoo.com/news/china-not-among-majorcentral-093000064.html?fr=sycsrp_catchall (accessed on 
14.10.2023).
3.3. The international role of the US dollar
Since its establishment in 1944, the global financial system based on the US dollar has undergone fundamental changes. The reality is that 
the US economy is gradually losing its undisputed leading position. Its share in global GDP is 
declining in the context of the increasing role of 
China, emerging markets and developing economies. According to the International Monetary 
Fund (IMF), during the period 1980–2023, US 
GDP as percentage of World GDP (GDP based on 
Purchasing power parity (PPP)) decreased from 
21.32% in 1980 to 15.42% in 2023. Meanwhile, 
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