Report of the World Bank predicts dark global economic outlets, citing disadvantageous developments and long -lasting slowdown - Economics
Report of the World Bank predicts dark global economic outlets, citing disadvantageous developments and long -lasting slowdown - Economics
Global economy, citing "disadvantageous developments" and "long -lasting slowdown" "Decoding =" Async "Loading =" Lazy ">
On January 10, 2023, the World Bank published its report "Global Economic Prospects", in which it found that the prospects for the global economy and future economic conditions are dark. According to the report, the growth forecasts for 2023 were shortened across the board, whereby the global economy is expected to grow by 1.7 % and in 2024 by 2.7 %. The World Bank also called a number of negative developments that could drive the global economy a deep recession.
report by the World Bank is committed to measures against climate change and increased investments to compensate for adverse economic shocks
The World Bank, the financial organization with 174 member countries, published its global economic prospects on Tuesday. The report provides for a "strong, long -lasting slowdown that will hit developing countries hard". The World Bank quotes numerous problems Covid-19 pandemic and "escalating geopolitical tensions", as reasons why the global economy could get into a recession. The report also mentions Interest increases from the central banks and a "higher Inflation" as factors Contribute to “negative developments”.
"The growth in the advanced economies is expected to slow down from 2.5 % in 2022 to 0.5 % in 2023. In the past two decades, slowdowns of this size have indicated a global recession," explains the World Bank's report in the Global Economic Prospects. “In the United States, growth in 2023 is expected to fall to 0.5 % - 1.9 percentage points among earlier forecasts and the weakest development outside the official recession since 1970. 2023 the growth in the euro area at zero percent - a downward revision of 1.9 percentage points. In China, growth in 2023 is predicted to 4,3 %. Under previous forecasts. ”
The summary of the report comes to the conclusion that one thing that can help the global economy is to "improve the long -term growth prospects by strengthening resistance to climate change". The World Bank insists that political decision -makers "tackle climate change and support people who are affected by crises and hunger". In order to compensate for "long-term damage through the negative shocks of the past three years", the threshold and developing countries have to "significantly increase investments" according to the World Bank report.
What do you think about the global economic prospects report of the World Bank and its forecasts for the global economy? Share your thoughts on this topic in the comment area below.
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