Sluggish growth this year at 2.1% and next year at 2.4% is what the World Bank predicts in its latest report released on Tuesday 6 June. The crisis associated with the pandemic, and then with the war in Ukraine, with inflation and the monetary policy of central banks is still not digested, the institution explains.
“The World Bank said on Tuesday that the economy remains in “shaky state” and warned of sluggish growth this year and next as higher interest rates slow down consumer spending and business investment and threaten the stability of the financial system.” summary New York Times.
Stubborn inflation
In its latest Global Economic Prospects report, the organization acknowledges that policy makers are facing “difficult situation”, since then they “trying to stop stubborn inflation by raising interest rates, fighting the effects of the pandemic and growing supply chain disruptions due to the war in Ukraine,” notes the American newspaper Daily.
In this gloomy panorama “Biggest Losers” the poorest countries The keeper. “Despite a slight upward revision to the growth forecast for 2023,” according to the World Bank, “the good news is in the past.” She claims that “The international community is failing to achieve the UN’s development and poverty reduction goals by 2030.” Finally, the British newspaper emphasizes that the World Bank warns of “the risk of a new debt crisis for the most vulnerable countries”.
Source: Courrier International
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