Global economy to weaken in 2024: WEF

RIYADH, Jan 15 (Arab News): Some 56 per cent of chief economists expect the global economy to slow down in 2024 along with an acceleration in geo-economic fragmentation, a survey showed.

The latest Chief Economists Outlook from the World Economic Forum noted that the global economy continues to grapple with headwinds from tight financial conditions and rapid advances in generative artificial intelligence.

According to the survey report, 43 per cent of chief economists foresee unchanged or stronger conditions in 2024, while seven out of 10 participants opined that geoeconomic fragmentation will accelerate during the period. "The latest Chief Economists Outlook highlights the precarious nature of the current economic environment.