Experts discuss world economy at TRT World Forum

ISTANBUL

Experts discussed the difficulties that the world economy that facing today as part of a session of the Turkish national broadcaster TRT's World Forum on Saturday.

Speaking at the Between Recession and Stagflation: The World Economy at the Crossroads session, Saleem Mandviwalla, the senator from Pakistan, said that especially the developing countries are going through some "serious economic" challenges as the world faced COVID-19 pandemic, followed by Russia's war in Ukraine, and for Pakistan additionally the floods.

"It was one crisis after the other it's a continuing struggle, and we are still struggling today," Mandviwalla said, adding that they have to restructure their debt, but they do not receive the help they expected from the world.

For his part, Livio Manzini, the president of the Italian Chamber of Commerce, reminded the past major disruptions that the countries suffered and said that there are winners and losers, threats and opportunities.

"These latest disruptions, I'm afraid, are bringing us a period maybe of lose, ... but navigating treacherous waters is one thing that leads into an investment, new job creation, new trading opportunities," Manzini said.

Regarding how Poland is economically coping with the current economic crisis, Wosko Maciej, the editor-in-chief of Gazeta Bankowa, said that Poland is coping "well with effects of the war in Ukraine and the nuclear energy crisis related to it."

Maciej also underlined that the Polish government was "one of the first in Europe to launch a system of financial shields" for business companies fighting with broken supply chains from the very beginning of the pandemic.

Yusif Abdullayev, the head of the Export And Investment Promotion Agency of Azerbaijan, said that although his country is not a big country but the current economic situation affected them both negatively and positively as they have the oil and gas resources.

The TRT World Forum 2022, a two-day annual event, started in Istanbul on Friday.

The gathering, which is held under the theme of Mapping the Future: Uncertainties, Realities and Opportunities this year, brings together academics, journalists, intellectuals, politicians, and members of civil society from around the globe.

Nearly 100 speakers and over 1,000 participants from nearly 40 countries are attending the forum, according to Mehmet Zahid Sobaci, the director general of TRT, Türkiye's public broadcaster.

The forum featured sessions on various subjects, such as the Ukraine-Russian war, global migration, and the energy crisis, as well as disinformation.

The event was held in person this year after it was held virtually for the past two years due to the COVID-19 pandemic.