Davos 2023: Global recession in 2023 seen as likely in WEF survey

Vital meet: Police assemble outside the congress centre on the eve of the WEF. — AP

DAVOS, Switzerland: Two-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said on Monday as business and government leaders gathered for its annual meeting.

Some 18% considered a world recession "extremely likely" - more than twice as many as in the previous survey conducted in September 2022. Only one-third of respondents to the survey viewed it as unlikely this year.