The World Bank on Tuesday slashed its global growth forecast and warned that many countries could fall into recession.
Expansion in emerging market and developing economies, meanwhile, is projected to fall to 3.4% in 2022 from 6.6% in 2021, well below the annual average of 4.8% from 2011 to 2019.
The World Bank's June report offers what it calls the"first systematic" comparison between the situation now and that of 50 years ago.
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