Washington-SANA
Unfavorable expectations were made by a number of senior economists during the annual meeting of the World Economic Forum in Davos, in which they warned of the possibility of a global recession in 2023, according to what was reported by the US Bloomberg Agency.
The agency indicated that two-thirds of the world's top economists expected a global recession this year, according to a new poll published by the Davos Forum, while 18 percent of these economists saw a recession as "very likely."
Among the more than 4,400 business leaders who participated in another survey conducted by the consulting company “BwC” during the months of October and the second of last year, 73 percent expected that global growth would decline in 2023, and these expectations, according to Bloomberg, are the worst since it began. The company conducting surveys in 2011.
Concerns are likely to grow this week, as more than 2,700 executives, bankers and economists congregate in the Swiss ski resort of Davos for the first time since January 2020 after the Corona pandemic, especially due to high inflation last year and the subsequent rise in interest rates from Before central banks, which may lead to contraction of many economies.
Bloomberg indicated that the confidence of business leaders in the growth prospects of their companies has declined to the greatest extent since the 2008 crisis, while the World Bank warned last Tuesday that the global economy will come dangerously close to recession this year, driven by weak growth in all major economies in the world, led by the United States. and Europe.
In an annual report, the World Bank, which lends money to poor countries for development projects, said it cut its forecast for global growth this year almost in half, to only 1.7 percent from its previous forecast of 3 percent.
If these forecasts prove accurate, it would be the third weakest annual growth in three decades after the deep recessions caused by the global financial crisis of 2008 and the coronavirus pandemic in 2020.
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