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Washington: India and China are “two exceptions to the slowdown” that the global economy is expected to experience this year, World Bank Group President David Malpass said.
In his Opening address at the ongoing Spring Meetings 2023 Media Call, ahead of the International Monetary Fund and World Bank Spring Meetings week, Malpass said that global growth is expected to be weak in 2023, slowing to two per cent from 3.1 per cent in 2022.
“I note the stability of China’s currency and the countercyclical nature of its monetary policy. India continues to be one of the fastest-growing major economies in the world. We are looking for growth of 6.3 per cent in their FY23/24,” he said.
Watch: IMF Outlook 2023: India and China to Drive Global Economic Growth Vantage with Palki Sharma
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