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World Bank predicts 'sharp slowdown' for global economy this year despite improvement

World Bank predicts 'sharp slowdown' for global economy this year despite improvement

Jun 07, 2023, at 01:20 pm

The global economy is likely to experience a significant slowdown this year, under the influence of elevated interest rates, the ongoing repercussions of Russia's invasion of Ukraine, and the persistent impacts of the coronavirus pandemic, the World Bank said in its latest outlook.