Economics
World Bank Cuts Global Growth Forecast on Virus Flare-Ups
- Global GDP may expand 4.1% in 2022; bank had seen 4.3% before
- Limited emerging-nation policy space raises hard-landing risk
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Covid-19 flare-ups, diminished policy support, and lingering supply-chain bottlenecks will see the global economic recovery cool more than previously estimated in 2022, after last year’s expansion clocked the fastest post-recession pace in eight decades, the World Bank said.