World Bank warns of stagflation, cuts outlook amid Ukraine war

Politics Economy

The World Bank warned Tuesday that the global economy is facing the risks of a protracted period of feeble growth and elevated inflation amid Russia's war in Ukraine as it forecast growth this year to slump to 2.9 percent, down 1.2 percentage points from its estimate in January. Japan was among the major advanced economies facing bleaker prospects this year, with its real gross domestic product expected to grow 1.7 percent, 1.2 points lower than the earlier projection. "Just over two years after COVID-19 caused the deepest global recession since World War II, the world economy is again in dang...

Kyodo News

Kyodo News