The World Bank warned Tuesday that the global economy faces the risk of dreaded “stagflation,” with this combination of high inflation and low growth tipping some countries into recession.
“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” said World Bank President David Malpass.
In its updated Global Economic Prospects report, the World Bank slashed its forecast for…
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