World Bank cuts 2022 growth outlook to 4.1%, warns of marked slowdown

Published by
Kyodo News

The World Bank on Tuesday warned that the global economy is entering a “pronounced slowdown” amid fresh threats of COVID-19 variants and a rise in inflation, forecasting growth this year to slow to 4.1 percent, down 0.2 percentage point from its estimate in June. The Japanese economy, however, is expected to grow at a rate 0.3 point higher than the earlier projection, reaching 2.9 percent in 2022 on the back of a likely pick-up in economic activity thanks to the rollout of coronavirus vaccines, the Washington-based institution said. “As the world enters the third year of the COVID-19 crisis, e…

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