World Bank Group President revises 2023 global growth outlook upward to 2%

Mon 10-04-2023 21:50 PM

WASHINGTON, 10th April 2023 (WAM) — The World Bank Group President David Malpass announced that the lender has raised its 2023 global growth prediction to 2% from 1.7% in January.

Malpass told a media briefing today that the upward revision was due to an improved outlook for China’s recovery from COVID-19 lockdowns, with growth now pegged at 5.1% this year compared to 4.3% in the bank’s January Global Economic Prospects report. Advanced economies, including the U.S., are also doing a bit better than the World Bank anticipated in January, Malpass said.

Hatem Mohamed

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