Energy supply shortage biggest risk for BD economy: WEF

Global Risks Report 2024, published by the World Economic Forum (WEF) on Wednesday, has identified energy supply shortage as the biggest risk for Bangladesh's economy in the next two years.

The report also pointed out inflation, economic downturn, inequality in wealth and income, public debt and unemployment as major risks for the country in the period.

Energy supply shortage was not in the top five of WEF’s previous report.

In the report, the WEF identified some of the most severe risks for Bangladesh and more than 100 other countries in the next two years by Executive Opinion Survey (EOS), which was administered between April and August 2023. The Centre for Policy Dialogue (CPD) was the partner institute of the survey from Bangladesh.

Over 11,000 expert respondents were presented with the following question: “Which five risks are the most likely to pose the biggest threat to your country in the next two years?” and were asked to select these from the list of 36 risks.

During the Executive Opinion Survey (EOS), two-thirds of respondents selected extreme weather as the top global risk for 2024.

The report considered misinformation and disinformation as the most severe global risk over the next two years over elections in Bangladesh, India, Indonesia, Mexico, Pakistan, the United Kingdom and the United States.

Highlighting involvement of nearly three billion people in elections in these countries, the WEF said, “The widespread use of misinformation and disinformation, and tools to disseminate it, may undermine the legitimacy of newly elected governments. Resulting unrest could range from violent protests and hate crimes to civil confrontation and terrorism.”

“Resulting unrest could range from violent protests and hate crimes to civil confrontation and terrorism,” it added.