World Bank forecasts slowest global economic growth in over three decades | DW News

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The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies – the United States, Europe and China – the World Bank warned on Tuesday.
In an annual report, the World Bank, which lends money to poorer countries for development projects, said it had slashed its forecast for global growth this year by nearly half, to just 1.7%, from its previous projection of 3%. If that forecast proves accurate, it would be the third-weakest annual expansion in three decades, behind only the deep recessions that resulted from the 2008 global financial crisis and the coronavirus pandemic in 2020.

#economy #recession #energy

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43 COMMENTS

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  35. Interesting how the news anchor was quick to cut off the interviewee when she started commenting on China Covid policy and supply chain disturbances…

  37. It's not World Bank,it should be called Western Bank that's it stands for,shifting the goal post to dominate and stand for its Western white supremacy. LOL 😂 for its double standards its quite obvious, world would be a better place without all these nonsense like IMF WORLD BANK UN ,UN going to be an organisation without having the membership of world's most populous country.

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  40. So even with low energy prices inflation is driven by supply-chain bottlenecks resulting from China's covid lockdown. But as China's economy opens up then its increased energy demand will start fueling inflation. Sounds like we're stuck between a rock and a hard place.

    However, this doesn't make sense. China can buy all the oil they want from Russia — not by competing with the EU. The EU won't allow China or others to pay Russia more than $60/barrel, which is fine with them. That should be counter-inflationary. As for gas, the EU is installing LNG terminals at record pace and the winter has been unseasonably mild. So where is all of this inflationary pressure coming from?

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