World Bank now expects global growth to slump
- Economy
- Agencies and A News
- Published Date: 04:57 | 07 June 2022
- Modified Date: 04:59 | 07 June 2022
World Bank said that it now expects global growth to slump from 5.7% in 2021 to 2.9% in 2022 amid Russia-Ukraine war, according to a statement.
It also warned that key risk to global economy is the possibility of high global inflation accompanied by tepid growth and 1970s-style stagflation.