WEF warns of weak global growth, structural disruptions
The World Economic Forum (WEF) says the global economy is entering a period of weak growth and systematic disruption, with findings of the Chief Economists’ Outlook pointing to the emergence of a new economic environment shaped by persistent disruption and growing fragmentation. The outlook report, published on Tuesday, highlights sharp regional fault lines, noting that emerging markets are expected to be the main engines of growth. The Middle East and North Africa (Mena), South Asia and East Asia and Pacific are seen as bright spots, with one in three chief economists expecting strong or very strong growth in these regions. Growth expectations for South Asia have softened slightly. Thirty-one per cent of chief economists expect strong or very strong growth in the year ahead, down from 33pc in April, while the share expecting moderate growth has risen from 55pc to 66pc. Across South Asia, 64pc of surveyed chief economists expect moderate inflation over the next year, 74pc anticipate no change in monetary policy and 80pc expect fiscal policy to remain steady.