Hydrogen Trains in 2024 to Drive Sustainability
IMF Reports Says Weakest Growth of World Economy Since 1990
By Garvit Vyas , 08 May, 2023
The world economy is supposed to grow at roughly 3 percent in the next five years. It is the slower pace since 1990 as told by the head of the International Monetary Fund.
According to the reports, the global growth has fallen almost in half to 3.4 percent in 2021. It is the below 3.8 percent average growth in the last two decades. The slowdown is continuing in 2023 as well, despite strong job markets in the countries like United States.
As per the information by IMF, the expected growth dip below 3 percent in 2023, with China and India accounting for more than a half of the growth. Around 90 percent of the advanced economies are supposed to see decline in growth by reflecting the borrowing costs, after the central banks raised the interest rates to stabilise soaring prices. Also, for the low-income countries the higher borrowing costs also arrive at a time of weakening demand for their exports.
Georgieva added, a severe blow is even harder for the low-income nations to catch up. Also, hunger and poverty may increase further in a dangerous trend that started by the global covid crisis. Thus, to call for support to vulnerable nations, the authorities must continue to lift up the interest rates to fight the inflation as long as financial pressures are limited.China and India Contributing World GDP
Latest News
Hydrogen Trains in 2024 to Drive Sustainability
Hydrogen trains signify an essential development in the world's efforts to decarbonize transport. А Hydrogen-powered trains emerged as the fastest way of mobility, with specific coverage and significant developments in several areas, signifying a…
Mexico Energy Sector aims to Expand Clean Energy Transition by 2030
Mexico is progressing rapidly in the renewable energy sector, envisioning double its production by 2030. By 2024, 35% of electricity should come from clean sources, compared to 29% in 2022. With a focus on solar, geothermal, wind, and hydroelectric…
With Surge in Nuclear Power, Texas Positions itself as Clean Energy Leader
Nuclear energy has been gaining traction in the global market, as have its requirements from big corporations. Texas has begun its revival phase as one of the front-runners in this new economic race. An expanding demand for nuclear energy…
Small Nuclear Reactors may Help in the Progress of Clean Energy Transformation
High Cost of Uk Gasoline Prices Fuels Debate
