Skip to content
Economics

World Bank Cuts 2023 Forecasts and Warns of Global Recession

  • Inflation, interest-rate hikes and war among main challenges
  • Urgent global action needed to mitigate contraction, debt risk
Bloomberg business news
World Bank's Malpass on Global Economic Outlook for 2023

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

The World Bank slashed its growth forecasts for most countries and regions, and warned that new adverse shocks could tip the global economy into a recession.