World Bank Warns Global Economy Could Easily Tip Into Recession in 2023
Global economy risks second recession within three years, warns World Bank
Washington-based body cuts 2023 growth forecast amid threats from inflation, interest rates, Covid and warAny fresh setback to a global economy already rapidly weakening as a result of high inflation, interest rates and war could result in a second recession within three years in 2023, the World Bank has warned.In its half-yearly health check, the Washington-based institution said it had cut its 2023 growth forecast from 2.9% to 1.7% after the r…
World Bank warns global economy could tip into recession in 2023
The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia's war in Ukraine continues, and the world's major economic engines sputter.
World Bank warning: Global economy is at risk of recession
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 Tuesday.