. Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid new threats from COVID-19 variants, a rise in inflation, debt, and an income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. As a result, global growth is expected to decelerate markedly from 5.5 % in 2021 to 4.1 % in 2022 and 3.2 % in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world. As a result, the forecast for the current year was reduced by 0.2 % compared to June.
Global Economic Growth will slow through 2023
