Cost-of-Living Crisis Is Top Immediate Risk for Davos Elite
- Climate is biggest long-term threat but fiscal space narrowing
- Countries need to work together to avoid ‘polycrisis’
The WEF Global Risks Report suggests there will be little respite as countries grapple with “energy, inflation, food and security crises.”
Photographer: Luis Antonio Rojas/BloombergThis article is for subscribers only.
The threat of recession, the cost-of-living crisis and mounting debt distress will dominate the global economy in the next two years as it struggles to move on from the pandemic and war in Ukraine, according to a survey by the World Economic Forum.
Its Global Risks Report, an annual poll of 1,200 government, business and civil society professionals compiled by the Geneva-based foundation, suggests there will be little respite as countries grapple with “energy, inflation, food and security crises.”