26.6 C
Delhi
Monday, July 7, 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

Historic Nagar Kirtan Held in Baramulla After 30 Years to Commemorate Guru Hargobind Sahib Ji’s Birth Anniversary

For the first time in over three decades, the town of Baramulla resonated with the divine spirit of...

India and Israel – Allies in Innovation, Security, and Spirit: Reuven Azar

As the geopolitical landscape evolves and new alliances emerge, the relationship between India and Israel has stood out...

PM Modi reaches Trinidad & Tobago

Port of Spain/New Delhi: During the second leg of his five nation tour, Prime Minister Narendra Modi, reached...

PM Modi arrives in Port of Spain, welcomed by PM Kamala Persad Bissessar and entire cabinet

Port of Spain/New Delhi: Prime Minister Narendra Modi arrived in Port of Spain, on a two-day visit to...