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The World Bank sharply downgraded its outlook for the global economy, pointing to a Russian war against Ukraine, the prospect of widespread food shortages and fears of a possible return of "
On Tuesday, the anti-poverty agency, which unites 189 countries, predicts that the global economy will grow by 2.9% this year.. That's less than the 5.7% global growth in 2021 and the 4.1% the agency forecast for 2022 back in January..
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In 2023 and 2024, the picture will not be much brighter: the agency predicts global growth at no more than 3%.
Specifically for the US, the World Bank cut its growth forecast to 2.5% this year from 5.7% in 2021 and from the 3.7% it forecast in January.. For the 19 eurozone countries, he cut his growth forecast to 2.5% this year from 5.4% last year and from the 4.2% he expected in January..
In China, the world's second largest economy after the US, the World Bank expects growth to slow to 4.3% from 8.1% last year.. China's "
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The economy of Russia, which unleashed a war against Ukraine, is also steadily moving towards a dead end, more precisely, towards a rollback decades ago..