Two-thirds of economists attending Davos expect a global recession

As business and government leaders converge at this year’s Davos summit, two-thirds of leading public and private sector economists surveyed by the World Economic Forum (WEF) predict a global recession this year.

While 18 percent of those surveyed consider a global recession “extremely likely” this year, that rate has more than doubled since the last survey in September 2022.

Only a third of those surveyed said they believed there would be no recession this year.

‘HIGH INFLATION, HIGH DEBT, SLOW GROWTH…’

“With the current high inflation, slow growth, high debt and fragmented environment, the incentive for investment to return to growth and improve the living conditions of the world’s most vulnerable populations is diminishing,” said the Forum’s president. World Economic Commissioner, Saadia Zahidi, in a statement released alongside the survey. (Reuters)