World Bank raises 2023 growth outlook but warns on banking turmoil, oil prices
President David Malpass said on Monday that the lender has revised its 2023 global growth outlook slightly upward to two per cent from a January forecast of 1.7 per cent but the slowdown from stronger 2022 growth will increase debt distress for developing countries.
Advanced economies, including the U.S., are also doing a bit better than the World Bank anticipated in January, Malpass said.But the departing World Bank chief warned that turmoil in the banking sector and higher oil prices could again put
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