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The World Bank expects a prolonged slowdown due to persistent inflation


Washington, SANA- President of the World Bank, David Malpass, expressed his concerns about the decline in global economic growth in the period


World Bank President David Malpass has expressed his concerns about the decline in global economic growth in the period between 2023 and 2024, due to persistent inflation and low investment.

Sky News quoted Malpas as saying during an interview with him: “I think it will be a long-term slowdown, and the reason is the continuation of inflation and the decrease in new investment that is already happening,” adding: “For a year or two years 2023 and 2024 it is difficult to see a significant recovery, but rather we will witness a slowdown in economic growth.”

"You have to tighten your belts," Malpass said, calling on countries around the world to spend their money more efficiently.

According to a quarterly poll recently conducted by the American Wall Street Journal, economists in the United States expected that the rise in interest rates would continue to enter the American economy into a stage of recession, which it will witness next year.

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Source: sena

All business articles on 2023-01-22

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