一 | Washington, Oct 14 (UNI) The global economy is "dangerously close" to a recession, as inflation remains elevated, interest rates rise, and growing debt burden hits the developing world, World Bank President David Malpass said.
"We've lowered our 2023 growth forecast from 3 per cent to 1.9 per cent for the global growth, that's dangerously close to a world recession," Malpass on Thursday said at a press conference during the IMF and World Bank annual meetings.
"All of the problems that people have taken note of, the inflation problem, the interest rate rises, and the cutoff of capital flow to developing world hit the poor hard," he said, highlighting the buildup of debt for developing countries.
"That's a world recessions could happen under certain circumstances," Malpass said.
In a study published in mid-September, the World Bank warned that as central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023, with a growth forecast of only 0.5 per cent.
The World Bank chief noted at the press conference that world population growth is estimated at 1.1 per cent per year. "So if you get much slower in terms of world growth, that means people are going backward," Malpass said in response to a question from Xinhua.
Citing a recent World Bank report, Malpass said that Covid-19 pandemic dealt the biggest setback to global poverty-reduction efforts since 1990, pushing about 70 million people into extreme poverty in 2020, and the war in Ukraine threatens to make matters worse.
According to the Poverty and Shared Prosperity Report, global median income declined by 4 per cent in 2020, the first decline since its measurements of median income began in 1990.
"So if we have a world recession now, that would also depress median income, meaning that the people in the lower half of the income scale are going down," Malpass said.
The World Bank chief also noted that he has been concerned about the concentration of capital in the world in the top end of the advanced economies.
"So that's, I think, one of the issues that the world has to deal with to allow capital to flow to new businesses and to developing countries, that would take a change in the direction of fiscal and monetary policies in the advanced economies," said Malpass.
The world is facing very challenging environment from the advanced economies, and that has serious implications, dangers for the developing countries, he said. "My deep concern is that these conditions and trends might persist into 2023 and 2024."
UNI/XINHUA PRT。
二 | 受冷暖空气交汇影响，西北地区东部、华北及东北地区出现强降雨和强对流天气。
三 | 气象数据统计显示，从昨天到今天，全国共有669个气象站出现大暴雨。 气象卫星监测显示，8月25日至8月26日，北京、河北、福建、广东等地出现大雨到暴雨。全国共有19个气象站出现特大暴雨，669个气象站出现大暴雨。
四 | 其中：
全国最大累计降水量和最大1小时降水量均出现在河北沧州沧县，分别达349.6毫米和128.3毫米。 全国平均降水量最大的省级行政区为福建，全省平均降水量为54.4毫米、最大降水量为282.3毫米。 未来几天 山西河北山东等地将有暴雨
未来几天，受冷空气和副热带高压外围充沛水汽供应的影响，我国北方地区还会出现分散性的阵雨或雷阵雨天气，局地雨强比较大，对流也比较剧烈，其中陕西中北部、山西中北部、河北中南部、山东北部等地部分地区有大到暴雨，局地大暴雨，并伴有雷暴大风、冰雹等强对流天气。 请公众及时关注临近预报、预警信息，外出注意安全。
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Published on:13:18:17
