Why in the news ?
The World Economic Forum recently released its Chief Economists Outlook Report (May 2026). The report predicts a weakening of global economic growth. However, India and the United States are identified as relatively strong economies. The report also highlights the West Asia crisis, the blockade of the Strait of Hormuz, inflation, and the impact of artificial intelligence (AI).
Key Findings of the Report
1. Growing Concerns About Global Economic Growth
- Nearly 90% of economists surveyed believe that global economic growth will remain weak in the coming years.
- Geopolitical tensions, trade barriers, and supply chain disruptions are cited as the main reasons.
2. Impact of the Strait of Hormuz Crisis
- Escalating conflict in West Asia and disruptions in the Strait of Hormuz have impacted global energy supplies.
- Oil and gas prices have risen and global market…
