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World Bank Cuts 2023 Global Growth Projection as Inflation Persists
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WASHINGTON—The World Bank sharply lowered its growth forecast for the global economy this year as persistently high inflation has elevated the risk for a worldwide recession.
The bank expects global growth to slow to 1.7% in 2023, down from an estimate of 3% growth in June. That would mark the third-weakest pace of global growth in nearly three decades, overshadowed only by the 2009 and 2020 downturns, according to the World Bank. A separate report showed that global inflation, while starting to cool, remains historically high.
Read more on wsj.comAbout this in other media
World Bank Cuts 2023 Global Growth Projection as Inflation Persists wsj.com /1 year ago
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