World Bank Warns About Stagflation & Global Recession Risks
<p>World Bank President David Malpass spoke about stagflation and global recession, viewing it as the sharpest slowdown in 80 years. Given the war in Ukraine, lockdowns in China, and supply-chain disruptions, Malpass believes the recession will be hard to avoid for many countries. </p>
<p>According to the World Bank report, issued on Tuesday, global growth is anticipated to decline from 5.7% in 2021 to 2.9% in 2022. This is significantly below the 4.1% estimate provided in January. Furthermore, the bank stated that inflation and slow growth may persist for years.</p>
