World Bank Cuts 2023 Forecasts and Warns of Global Recession

The World Bank slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession.

Global gross domestic product will probably increase 1.7% this year, about half the pace forecast in June, the Washington-based lender said Tuesday. That would be the third-worst performance in the last three decades or so, after the contractions of 2009 and 2020.



World Bank Cuts 2023 GDP Growth Forecasts and Warns of Global Recession – Bloomberg

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