WEF president: ‘We haven't seen this kind of debt since the Napoleonic Wars'

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy.

He said governments needed to consider how to reduce that debt and take the right fiscal measures without getting into a situation where it kicks off a recession.

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy saying the world faces a decade of low growth if the right economic measures are not applied. "We cannot get into a trade war, we still have to trade with each other," he explained when asked about avoiding a period of low growth.

His warning chimes with a recent report from the International Monetary Fund which noted that global public debt had edged up to 93% of GDP last year, and was still 9 percentage points higher than pre-pandemic levels. The IMF projected that global public debt could near 100 % of GDP by the end of the decade.

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