\n
The\u00a0World Bank\u00a0Deputy Chief Economist,\u00a0Ayhan Kose, has said the global\u00a0economy\u00a0has been remarkably resilient, especially in the last year.<\/strong><\/p>\nGrowth last year, he said, surprised on the upside, thanks to the\u00a0US\u00a0economy, the strength of the US economy. But, he further noted, some large emerging markets like\u00a0India, Indonesia,\u00a0Brazil,\u00a0Mexico, delivered robust growth rates.<\/p>\n
Inflation\u00a0has been coming down without a major slowdown, Mr Kose further indicated.<\/p>\n
\u201cInterest rates went up significantly, but we did not see a major financial crisis in a large economy. So all in all, there is resilience, and we should be happy about it. Having said that, you know, there are not so good news as well,\u201d he said while providing an expert analysis on the global economic situation last week.<\/p>\n
In June 2023, he mentioned an ongoing global growth slowdown as a major concern to the\u00a0Bank.<\/p>\n
Asked for the latest analysis of this situation, Mr Kose answered that the slow down would continue.<\/p>\n
\u201cThe third year in a row, we will see weaker growth in the global economy. Growth this year will be around 2.4%. It was 2.6% last year. For emerging market developing economies, growth is going to be a tad below, around 3.9%. And the third point is that external conditions are remaining very difficult for developing economies. Geopolitical tensions are on the rise. Financial stress is a possibility because of very high real interest rates,\u201d he stressed.<\/p>\n
Inflation, he said, is going to continue coming down, but not to the levels central\u00a0banks\u00a0are comfortable with, at least in this year.<\/p>\n
\u201cThat means real rates will remain high. Trade is very weak. Last year, there was almost no growth in terms of global trade. So the situation remains fragile,\u201d he said.<\/p>\n
3news.com<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The\u00a0World Bank\u00a0Deputy Chief Economist,\u00a0Ayhan Kose, has said the global\u00a0economy\u00a0has been remarkably resilient, especially in the last year. Growth last year, he said, surprised on the upside, thanks to the\u00a0US\u00a0economy, the strength of the US economy. But, he further noted, some large emerging markets like\u00a0India, Indonesia,\u00a0Brazil,\u00a0Mexico, delivered robust growth rates. Inflation\u00a0has been coming down without a […]<\/p>\n","protected":false},"author":1,"featured_media":139977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-139976","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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