More than half of WEF’s top economists expect high inflation in Europe in 2023
More than half of the World Economic Forum’s (WEF) top economists expect high inflation to hit Europe in 2023, according to a statement published on the WEF website ahead of the opening of the Davos Forum in Switzerland.
“On inflation, chief economists see considerable variation across regions, with the proportion expecting high inflation in 2023 ranging from just 5% in China to 57% in Europe,” the document said.
The WEF specifies that economists expect the direction of monetary policy to remain unchanged in most of the world in 2023.
“With two-thirds of chief economists expecting a global recession in 2023, the global economy is in a precarious position. Current high inflation, low growth, high debt and high fragmentation are reducing the incentives for investment needed to restart growth and improve living standards for the world’s most vulnerable,” Saadia Zahidi, managing director of the WEF, said in a statement.
The World Economic Forum (WEF) will be held in Davos, Switzerland from January 16 to 20 under the motto “Cooperation in a Fragmented World”. The Russian delegation will not participate in Davos. Last spring, the WEF stopped engaging with sanctioned individuals due to the events in Ukraine and froze relations with Russian representatives.