World Bank Report Forecasts Bleak Global Economic Outlook Citing ‘Adverse Events’ and ‘Long-Lasting slowdown’
The World Bank’s Global Economic Prospects Report was published on Jan. 10, 2023. It stated that the outlook for the world economy and future economic conditions are bleak. The report states that 2023 growth forecasts for the global economy have been reduced across the board. The global economy is projected to grow by 1.7% and 2.7% respectively in 2023, according to the report.