Latest Headlines
World Bank raises global growth outlook for 2023 on China's recovery
  ·  2023-04-11  ·   Source: Xinhua News Agency

World Bank Group President David Malpass announced on April 10 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.


China Focus
Special Reports
About Us
Contact Us
Advertise with Us
Partners:   |   China Today   |   China Hoy   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency
China Daily   |   CGTN   |   China Tibet Online   |   China Radio International   |   Global Times   |   Qiushi Journal
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860