The World Bank is forecasting a slowdown of the global economy which will affect emerging and developing countries the hardest. The latest Global Economic Prospects report predicts growth will be impacted by COVID-19 cases and a rise in inflation, debt and income inequality over the next two years. A decline in the world's two largest economies, the US and China, will also reduce exports from smaller nations. While advanced economies are expected to achieve a full bounce back by 2023, poorer countries will remain four per cent below their pre-pandemic trend.
Post a Comment