Global growth will "decelerate markedly" this year as Covid-19 outbreaks and supply chain snarls persist while government aid programs expire, the World Bank said Tuesday.
The World Bank on Tuesday projected India’s GDP growth at 8.3 per cent for the ongoing financial year and at 8.7 per cent for 2022-23 fiscal in its latest Global Economic Prospects report.
Global growth will “decelerate markedly” this year as Covid-19 outbreaks and supply chain snarls persist while government aid programs expire, the World Bank said Tuesday.
The Washington-based development lender forecast growth would slow to 4.1 percent this year from an estimated 5.5 percent in 2021 but warned “Omicron-related economic disruptions could substantially reduce growth” to as low as 3.4 percent.
(with inputs from AFP)
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