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World Bank forecasts decrease in growth rates of global economy

Economy Materials 14 September 2022 17:21 (UTC +04:00)
World Bank forecasts decrease in growth rates of global economy
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, September 14. Growth of the global economy may amount to 3 percent in 2022, Chief Economist of the World Bank Ayhan Kose said during an event on 'Growth prospects for a changing global economy', Trend reports.

According to him, specialists of WB expect that in the future growth rates of the global economy will decrease.

"Earlier, World Bank forecasted the growth of the global economy by five percent for the current year. The reduction in economic growth is associated with a few factors. For example, in 70 percent of the countries of the world, economic growth has significantly decreased, including in African countries," Kose said.

He stressed that forecasts for the growth of the global economy for the coming decades will decline.

"These factors are related to the disruption of the food supply chain and food security," Kose added.

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