The head of the World Bank predicts a slowdown in global economic growth in 2023-2024
World Bank President David Malpass predicted a decline in global economic growth between 2023 and 2024 due to persistent inflation and lower investment.
“I think it’s going to be a prolonged slowdown,” Malpass said. “The reason is that inflation is going on and new investment is really shrinking, if you look ahead a year or two, it’s hard to see a big bounce.” In 2023-2024, there will be a slowdown in development.”
He also urged the countries of the world to spend their money more efficiently, saying, “You must tighten your belts.”
Earlier, more than half of the prominent economists at the World Economic Forum Davos expected that Europe would continue to face high inflation in the current 2023.
According to the forum’s statement: “On inflation, senior economists see significant differences across regions, with the share of experts expecting high inflation in Europe in 2023 to be around 57 percent.”