A woman wearing a face mask rides down a mostly empty street in Xi’an, China on January 6. Photo: Chinatopix via AP
A woman wearing a face mask rides down a mostly empty street in Xi’an, China on January 6. Photo: Chinatopix via AP

World Bank sees sharp slowdown for global economy, cutting forecasts for US and China

  • Global growth is expected to decelerate ‘markedly’ to 4.1 per cent in 2022 from 5.5 per cent last year, and drop further to 3.2 per cent in 2023
  • Recovery in developing countries is under threat from high debt levels, new coronavirus variants and rising income inequality

Topic |   World Bank Group
A woman wearing a face mask rides down a mostly empty street in Xi’an, China on January 6. Photo: Chinatopix via AP
A woman wearing a face mask rides down a mostly empty street in Xi’an, China on January 6. Photo: Chinatopix via AP
READ FULL ARTICLE