The annual meeting of the World Economic Forum (WEF) in the Swiss resort of Davos ha concluded with cautious optimism about the world economy among the world leaders.

Leaders and representatives from around the world had gathered this week at Davos for the World Economic Forum this week to discuss stability in the global economy. Jim Yong Kim, president of the World Bank, Christine Lagarde, managing director of the International Monetary Fund and Mario Draghi, president of the European Central Bank also accepted that the world economy is on the path of recovery but there are potential risks and challenges.

The current political situations including Syrian crisis and Iran's nuclear program were also discussed at the global forum this year as some leaders used the platform to express their opinion. More than 2,500 participants from almost 100 countries, including more than 1,500 business leaders and over 40 heads of state or government were present for the summit this year to discuss global economic recovery, financial outlook, new energy, health and climate change.

The World Bank has said that the global economy is expected to grow from 2.4 per cent in 2013 to 3.2 per cent this year and 3.4 per cent in 2015. Christine Lagarde, the head of the international Monetary Fund, has said that the global economic growth is expected to rise in the coming year.