Global growth to 'decelerate markedly' in 2022: World Bank
Global Economy
12 January, 2022, 09:50 am
Last modified: 12 January, 2022, 01:09 pm
The Washington-based development lender forecast growth would slow to 4.1 percent this year from an estimated 5.5 percent in 2021
Photo of World Bank. Photo: Collected
Global growth will "decelerate markedly" this year as Covid-19 outbreaks and supply chain snarls persist while government aid programs expire, the World Bank said Tuesday.
The Washington-based development lender forecast growth would slow to 4.1 percent this year from an estimated 5.5 percent in 2021, but warned "Omicron-related economic disruptions could substantially reduce growth" to as low as 3.4 percent.
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