Economics
World Economy Set to Slow on War’s ‘Strong Headwinds,’ UN Says
- UNCTAD sees global expansion slowing to 2.5% this year
- Rate hikes, surging prices may devastate developing economies
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Russia’s invasion of Ukraine will act as a drag on the world economy, with developing countries at particular risk, the United Nations warned.
Global growth will probably ease to 2.5% in 2022 following last year’s 5.6% surge, the UN Conference on Trade and Development said Thursday in a report.