Davos 2023: Recession casts long shadow over opening of WEF summit

Published by
Reuters

By Divya Chowdhury and Maha El Dahan DAVOS, Switzerland (Reuters) -The prospect of imminent global recession cast a long shadow over Davos on Monday as participants gathering for the opening of the World Economic Forum’s annual meeting counted the likely cost for their economies and businesses. Two-thirds of private and public sector chief economists surveyed by the WEF expect a global recession this year, with some 18% considering it “extremely likely” – more than twice as many as in the previous survey conducted in September 2022. “The current high inflation, low growth, high debt and high f…

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