Economy WTO chief expects downside revisions in global trade forecast By Reuters September 28, 2022, 5:57 AM Martial Trezzini/Pool via REUTERS Ngozi Okonjo-Iweala says forecasts are not looking very promising. The head of the World Trade Organization (WTO) told Reuters on Tuesday that she expects that global trade forecasts will be revised lower from the current three percent for 2022, citing the ongoing Russia-Ukraine war and related food and energy crises. “We are in the middle of revising our forecasts now but it’s not looking very promising. All the indicators are pointing to downside numbers,” Director-General Ngozi Okonjo-Iweala told Reuters in an interview. “Grosso modo the outlook is looking gloomy,” she said, without giving exact estimates. The WTO already revised down its forecast for global trade growth this year to three percent from 4.7 percent in April. It projected 3.4 percent growth in 2023. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
