world recession, danger to the world in 2023.. Threatening economic recession.. World Bank warning! – World Bank report warns there could be a global recession starting from 2023

As inflation continues to rise globally, interest rates are being raised in various countries. In India too, the Reserve Bank has raised the repo rate to 5.40% from May to August. Inflation also rose in August.

On the other hand, the interest rates in the US are also continuously increasing. Inflation rose in August as well. The US Federal Reserve meeting will be held this week. The interest rate is expected to increase further.

So far, interest rates have been raised in many countries like England and Australia to control inflation. In this way, as the interest rate is being raised all over the world, there is already a fear that a global economic recession may occur.

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In this case, the World Bank has warned that the world may go into recession in 2023 due to interest rate hikes. The World Bank has advised to increase production and reduce supply problems to reduce inflation.

In a report released by the World Bank, it has been reported that the signs of global economic recession are already visible and the global economic growth rate has decreased sharply since 1970.

The World Bank has warned that if more countries fall into recession, global economic growth will slow further. As a result, developing countries are at greater risk, said David Malbus, president of the World Bank.