NEW DELHI [India], The latest Chief Economists' Outlook released on Wednesday by the World Economic Forum presents a cautiously optimistic view of the global economy in 2024, tempered by significant political risks. According to the report, 82 percent of chief economists are optimistic about the global economy. The economy will either strengthen or remain stable this year, nearly doubling the proportion from the end of 2023 The share of those predicting a recession in global conditions has dropped dramatically from 56 percent in January to just 17 percent, however, geopolitical and domestic political Tensions are rampant. , Nearly 97 percent of respondents predict that geopolitical factors will contribute to global economic instability in 2024, in addition, 83 percent believe domestic politics will also be a significant source of instability, especially with nearly half the world's population. Saadia Zahidi, managing director of the World Economic Forum, who is running in this year's election, said, "The latest Chi Economist Outlook points to welcome but tentative signs of improvement in the global economic environment. It outlines an increasingly complex landscape Which the leaders are navigating.There is an urgent need for policymaking that not only seeks to revive the engines of the global economy, but also lay the foundation for more inclusive, sustainable and resilient growth. The economic growth outlook varies significantly by region with almost all leading economists (97 percent) now expecting moderate to strong growth this year, up from 59 percent in January. Asian economies also show strong prospects, with all respondents in the South At least moderate growth is projected in Asia and East Asia. Expectations are slightly less optimistic for China in the Pacific region, where three-quarters expect moderate growth and only 4 percent predict strong growth. In contrast, Europe's outlook remains bleak, with nearly 70 percent of economists predicting weak growth for the remainder of 2024. It is expected to experience broadly moderate growth, representing a slight improvement over the previous survey.The survey highlights the growing challenges facing businesses and policy-makers. According to 86 percent of respondents, tensions between political and economic dynamics are expected to increase, posing a significant challenge for decision makers this year. Additionally, 79 percent predict that increased complexity will impact decision-making processes. Major factors influencing corporate decision making include the overall health of the global economy (cited by 100 percent), monetary policy (86 percent), financial markets. (86 percent), labor market conditions (79 percent), geopolitics (86 percent), and domestic politics (71 percent).Interestingly, 73 percent of economists believe that companies' growth objectives will drive decision making, which is almost double the proportion that cite the role of companies' environmental and social goals (37 percent). Looking ahead, most chief economists remain optimistic about the prospects. Global growth, about 70 percent, is expected to return to 4 percent growth within the next five years (42 percent within three years). In high-income countries, growth is projected to be driven by technological change, artificial intelligence and Green and energy transitions However, there is less consensus on the impact of these factors in low-income economies.Geopolitics, domestic politics, debt levels, climate change, social polarization are widely expected to impact growth in both high- and low-income economies. Policy aspects that will boost growth over the next five years include innovation, infrastructure development, monetary policy. Policy, education and skills Low-income economies benefit more from access to institutions, social services and finance than high-income economies. There is significant disagreement over the impact of environmental and industrial policies on development.