23rd January 2023

Recession likely in 2023

Two-thirds of private and public sector chief economists expect global recession in 2023. 
Experts announced their predictions for this year in a survey carried out by World Economic Forum (WEF).  
Around 18% considered a world recession "extremely likely" - more than twice as many as in the previous survey conducted in September 2022. 
A statement by WEF Managing Director Saadia Zahidi said "The current high inflation, low growth, high debt and high fragmentation environment reduces incentives for the investments needed to get back to growth and raise living standards for the world's most vulnerable,"