World Bank forecasts low economy growth
The financial institution updated its forecasts for the growth of the economy, now placing it at 2.9 %
The World Bank recently said that the growth of the global economy was somewhat lower than previously expected.
According to the financial institution, a “prolonged period of low growth and high inflation” is likely to occur, mainly in low-income countries.
Before this analysis, the World Bank had declared that the economy was going to grow by 4.1 % and now, the forecasts have dropped to 2.9 % according to the latest report.
“The world economy is expected to experience its biggest slowdown after a recovery in more than 80 years. The result is a growing risk of stagflation”, the institution added.
K. Tovar
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Source: Cincodias
