World Bank slashes global growth forecast ...News

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World Bank slashes global growth forecast
The institution’s analysts say the world is ‘perilously close’ to recession Growth of the global economy will reach just 1.7% in 2023, the World Bank has projected, slashing its outlook from last year by nearly half, citing broadly worsening economic conditions. The Washington-based institution has cut nearly all of its projections for the most advanced economies. In June, its analysts predicted 3% growth for this year. The massive downgrade was a result of drastic changes to the World Bank's expectations for the growth of the US economy. Now, US GDP is projected to increase by 0.5%, down from the earlier forecast

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