The cost-of-living crisis will be the biggest global risk over the next two years, a survey by the World Economic Forum warned ahead of its Davos meeting next week. | AFP
“These include energy and food supply crunches, which are likely to persist for the next two years, and strong increases in the cost-of-living and debt servicing.”
The survey, produced with consultants Marsh McLennan and Zurich Insurance Group, took into account the views of more than 1,200 global risk experts, policymakers and industry leaders. “The short-term risk landscape is dominated by energy, food, debt and disasters,” said Saadia Zahidi, a managing director at the World Economic Forum .
The WEF study called “on leaders to act collectively and decisively, balancing short- and long-term views”.And it concluded on the need for cooperation on strengthening “financial stability, technology governance, economic development and investment in research, science, education and health”.
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