Vietnam’s GDP growth of 3.3 per cent in the first three months of 2023 has taken economists by surprise. The figure is far below forecasts and marks a reversal for what was till recently Asia’s fastest-growing economy. While a drop in exports weighed on growth, a simultaneous dip in imports, which are used mainly to make products for export, indicates producers are not optimistic about a nearterm recovery.
David Malpass, chief of the World Bank. has warned that Russia's ongoing invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump.
It said although fiscal and monetary stimulus programmes in both advanced and emerging markets have helped stabilise financial markets.
Many small companies and their employees will continue to remain a victim of the lockdown caused by the pandemic.
While many Indian leaders have given the WEF Annual Meeting a miss this time, those present said the main questions they were facing from the world community related to the 2019 elections and whether the Narendra Modi government would return to power
