World Bank President: The global economy is on a date with a long-term slowdown for these reasons!

On 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 said in an interview with “Sky News” in Great Britain.

“It is difficult to expect a strong recovery of the global economy in the next two years”, added Malpass, underlining the importance of building a sound economic policy for countries that are forced to cut spending and correctly set priorities, according to what is been denounced by the Russian agency “Tass”.

On January 10, the World Bank confirmed in a report that global economic growth will slow to 1.7% in 2023, indicating that there is a 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 the sharp decline in growth is expected to be widespread, with expectations revised downwards to around 95% of advanced economies and around 70% of emerging markets and economies in via of development.

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