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The World Bank: We are concerned about an emergency decline in the performance of these economies in 2022

The World Bank predicts a slowdown in global economic growth in 2022 as new epidemic waves coincide with rising prices and disruption of supply chains, eroding the momentum of recovery achieved last year.

In a report today, the Bank highlighted the intractable nature of the public health crisis, which is leading to growing inequality in Worldwide.

These warnings from the World Bank come the day after the International Monetary Fund warned of the consequences The pandemic affected the economic performance of emerging countries.

According to the bank, the epidemic is taking a particularly heavy toll on countries in via of development, in largely due to poor health infrastructure and low vaccination rates.

Omicron – Expressionism

In the foreword to the report, Bank President David Malpass said the Covid-19 crisis has swept via years of progress in poverty reduction, noting that “With the reduction of fiscal space for governments, many families in countries in via development have suffered huge job and wage losses, and women and unskilled workers are the hardest hit.

According to World Bank estimates, global growth is expected to slow to 4.1% quest’year from 5.5% to 2021, production could be weaker and inflation is likely to be higher than previously thought in precedence.

With countries exhausted by the Corona virus entering the third year of the epidemic, global growth is expected to slow sharply, further worsening estimates for the year 2023, with an expected growth of 3.2%.

The rapid spread of the Omicron variant indicates that the pandemic is likely to continue to disrupt economic activity in the short term.

Between emerging markets and countries in via development, growth is expected to decline from 6.3% in 2021 to 4.6% in 2022 and to 4.4% in 2023, as the forecast takes special risks for emerging markets and countries in via of development.

The marked slowdown in major economies – including the US and China – will reduce external demand for goods and services for many emerging markets and countries in via of development.

Challenges facing emerging economies include: the outbreak of the novel coronavirus, continuing bottlenecks in the supply chain and inflationary pressures and increasing financial vulnerabilities.

The combination of these threats could increase the downside risks of these economies.

Ayhan Kose, Director of the Bank’s Forecasting Unit, said that advanced economies, emerging markets and economies in via of development are following two different avenues for travel, while advanced economies are flying in high, the economies in via of development and emerging economies are flying at a low-flying pace, facing challenges that remain, as fears remain of an emergency drop in the level of performance general economic.

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