The World Bank Group President, David Malpass says global growth is expected to be weak in 2023, slowing to two per cent from 3.1 per cent in 2022. “If we look at developing countries excluding China, we expect a slowdown to about 3.1 per cent in 2023 from 4.1 per cent in 2022. “However, the likelihood is a long period of slow growth, asset reprising, and capital moving in the wrong direction. According to him, China’s Gross Domestic Product (GDP) growth is rebounding to more than five per cent in 2023, with strong private investment. “I was there in February and think it will take capital market liberalisation for India to achieve their eight per cent growth goal.’’NAN reports that the World Bank Group/International Monetary Fund 2023 Spring Meetings opened on Monday in Washington DCand would end on April 16.

Source: Punch April 11, 2023 21:58 UTC