The World Bank expects global growth to slow sharply, amid rising risks of financial pressures in emerging markets and developing economies and rising global interest rates.
According to the World Bank report, global growth will slow from 3.1 percent in 2022 to 2.1 percent in 2023. In emerging and developing market countries other than China, growth is expected to slow to 2.9 percent this year from 4.1 percent last year. These forecasts reflect broad cuts, with growth projections downgraded to about 70 percent of emerging and developing market countries and almost all advanced economies.
Source (Al-Arabiya.net Website, Edited)
