- January 11, 2022
- Posted by: Stratford Team
- Category: Economy
The World Bank says global economic growth is expected to decelerate markedly from 5.5 per cent in 2021 to 4.1 per cent in 2022 and 3.2 per cent in 2023 as pent-up demand disperses and as fiscal and monetary supports are disentangled across the world.
It attributed the unfavourable development to the spread of COVID-19 variants alongside inflation, debt, and inequality, which the Bank said have intensified uncertainty in the recovery of emerging and developing economies.
According to the World Bank’s latest Global Economic Prospects report, following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies.
“Global growth is expected to decelerate markedly from 5.5 per cent in 2021 to 4.1 per cent in 2022 and 3.2 per cent in 2023 as pent-up demand…
