World Bank raises global growth outlook for 2023 on China's recovery

2023-04-11 09:57:17Xinhua Editor : Li Yan ECNS App Download

World Bank Group President David Malpass announced on Wednesday the lender has raised its global growth forecast for 2023 to 2 percent from 1.7 percent in January due to China's recovery.

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.


Most popular in 24h

MoreTop news


Back to top About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2023 All rights reserved.
Reproduction in whole or in part without permission is prohibited.
[网上传播视听节目许可证(0106168)] [京ICP证040655号]
[京公网安备 11010202009201号] [京ICP备05004340号-1]