News > Global economy dangerously close to a recession: World Bank

Global economy dangerously close to a recession: World Bank

The global economy is "dangerously close" to a recession, as inflation remains elevated, interest rates rise, and a growing debt burden hits the developing world.

World Bank President Malpass said "We've lowered our 2023 growth forecast from 3 per cent to 1.9 per cent for the global growth, that's dangerously close to a world recession,"