Today, Sunday, World Bank President David Malpass predicted that global economic growth will continue to slow in 2023 and 2024.
“This is a long-term slowdown,” Malpass told Britain’s Sky News.
“It is difficult to expect a strong global economic recovery in the next two years,” Malpass added, emphasizing the importance of building sound economic policies for countries that are forced to cut their spending and prioritizing correctly, according to what was reported by the Russian TASS agency. .
On January 10, the World Bank confirmed in a report that global economic growth will slow to 1.7% in 2023, indicating the risk of a global economic recession.
The bank said the global economy is expected to grow at a rate of 2.7% in 2024, while a sharp decline in growth is likely to be widespread, with expectations revised down to about 95% of advanced economies and about 70 % of emerging markets. and developing economies.
