28 C
Delhi
Friday, October 3, 2025

World Bank raises global growth outlook for 2023

Date:

Share post:

Donate-GC-Razorpay

Washington: World Bank Group President David Malpass announced on Monday the lender has raised its global growth forecast for 2023 to 2 percent from 1.7 percent in January.

According to Reuters, Malpass attributed the upward revision to an improved outlook after China adjusted its Covid-19 pandemic response, with growth in the country expected to reach 5.1 percent this year compared to a previous estimate of 4.3 percent.

Advanced economies, including the United States, are also doing a bit better than the bank anticipated, he added.

However, the World Bank chief warned that turmoil in the banking sector and higher oil prices could again put downward pressure on growth prospects, and it would take time to resolve the problem of bank asset mismatch.

Related articles

Mahatma Gandhi’s 156th Birth Anniversary Observed by the Indian Embassy in Dublin

The Indian Embassy in Dublin organised a special event to pay respect and tributes to Mahatma Gandhi on...

100 Years of RSS: From My Misconceptions to My Understanding

For a large part of my life, my perception of the Rashtriya Swayamsevak Sangh (RSS) was filtered through...

Dharma Needs Warriors, Not Spectators: Krishna’s Battle Manual for Today

 In the swirling chaos of our times, when deceit parades as truth and cowardice masquerades as tolerance, the...

Official Hamas Documents Found Prove Terrorist Outfit’s Direct Involvement with Flotilla to Gaza

Now revealed for the first time, official Hamas documents found in the Gaza Strip prove the terrorist organisation’s...