World Bank slashed its global growth forecast for 2022 and 2023 and cautioned a rise in inflation, debt and income inequality.
The projections follow a strong rebound in global growth as demand soared after Covid-related lockdowns lifted.
It added that a resurgence in Covid infections, due to the highly contagious omicron variant, will likely disrupt economic activity in the near term and could worsen growth projections if it persists.
– CNBC