- June 14, 2022
- Posted by: Stratford Team
- Category: Economy
The World Bank recently predicted that the global economy could continue to decline in the coming months, as the world faces numerous crises, such as the ongoing war in Ukraine and the COVID-19 pandemic.
In a recent video posted to Twitter by the World Bank, Prospects Group Director, Ayhan Kose said, “Things have gotten, unfortunately, much worse than what we expected. We were expecting a slowdown, that slowdown is much more pronounced now. Growth is going to go down to 2.9 percent, at the global level, last year it was 5.7 percent.”
Kose continued, “So global economy is facing overlapping crisis. Of course, we have the war in Ukraine and its repercussions. We have increasing interest rates, tightening financial conditions. And the third crisis that’s still with us is the health crisis…So, it is a difficult period for the global economy.”
Ayhan Kose, the World Bank Prospects Group Director recently warned that the global economy could continue to…
