UK researcher: World economy faces recession

LONDON: The world faces a recession in 2023 as higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research (CEBR).

The global economy surpassed US$100 trillion (RM442 trillion) for the first time in 2022 but will stall in 2023 as policymakers continue their fight against soaring prices, the British consultancy said in its annual World Economic League Table.