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World Bank warns of slowing global growth, widening inequality (Al Jazeera)

The global economy is entering a phase of “pronounced slowdown”, the World Bank warned on Tuesday, as the Omicron variant of the coronavirus, and the triple blow of soaring inflation, high government debt levels and rising income inequality threaten recoveries in emerging and developing economies.

The latest Global Economic Prospects report (PDF) from the World Bank sees global economic growth downshifting from 5.5 percent in 2021 to 4.1 percent in 2022 – an outlook that is more pessimistic than its June call for 4.3 percent growth this year.

World Bank warns of slowing global growth, widening inequality | World Bank News | Al Jazeera