Washington DC April 11 2023: The World Bank Group President David Malpass announced that the lender has raised its 2023 global growth prediction to 2% from 1.7% in January.
Malpass told a media briefing today that the upward revision was due to an improved outlook for China’s recovery from COVID-19 lockdowns, with growth now pegged at 5.1% this year compared to 4.3% in the bank’s January Global Economic Prospects report. Advanced economies, including the U.S., are also doing a bit better than the World Bank anticipated in January, Malpass said.
