Vietnam’s Economy Recovers Despite WB’s Warning of Global Recession
WB’s warning of global recession in 2023 According to a comprehensive new study by the group of experts Justin Damien Guénette, M. Ayhan Kose, and Naotaka Sugawara from the World Bank , themed “Risk of global recession in 2023 rises amid simultaneous rate hikes”, the world may be edging toward a global recession in 2023. Central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades—a trend that is likely to continue well into next year, according to the report. Yet the currently expected trajectory of interest-rate increases and other policy actions may not be sufficient to bring global inflation back down to levels seen before the pandemic. Unless supply disruptions and labor-market pressures subside, those interest-rate increases could leave the global core inflation rate (excluding energy) at about 5 percent in 2023—nearly double the five-year average before the pandemic, the study finds. To cut gl