Effects of the global economic crisis 2022

The World Bank states that Russia ' s invasion of Ukraine - together with the damage caused by the COVID-19% - has aggravated the slowdown in the global economy, which enters a potentially long period of low growth and high inflation. This is also reflected in the World Bank ' s recent World Economic Outlook Report, which in turn increases the risks of inflation accompanied by a inflationary recession.

The effects of the global economic crisis 2022

Global growth is expected to decline from 5.7 per cent in 2021 to 2.9 per cent in 2022 -- well below the 4.1 per cent anticipated in January, and it is expected that global growth will continue to swing around that pace during the period 2023 to 2024, at a time when the war in Ukraine has disrupted short-term economic activity, investment and trade, weakened the stagnant demand, as well as ending fiscal and monetary policies that are less pervasive than the per capita income of the epidemic.

Global economic crisis 2022

Commenting on these circumstances, the President of the World Bank, David Malbas, said: " The ongoing war in Ukraine, closures in China, supply chain disturbances and inflationary stagnation risks are severely hit by global growth. Therefore, it will be difficult for many countries to avoid the risks of recession, and markets are looking forward to advancing and working again, so it is necessary to encourage production and avoid trade constraints, and there is a need for changes in fiscal, monetary, climatic and debt policy to address capital misappropriation and inequality. The June World Economic Outlook report provides the first systematic assessment of current global economic conditions compared with the inflationary stagnation in the 1970s, with a particular focus on how this situation affects the emerging markets and economies of emerging economies.

" Global inflation retreat 2024

Global inflation is expected to decline next year, but it is likely to remain above inflation targets in many economies. The report indicates that if inflation remains high, the recurrence of decisions of the previous inflationary recession can translate into a sharp decline in global economic activity along with financial crises in some emerging markets and developing economies. The report also provides a new 88%88% about the effects of the war on energy markets and how they cast their shadow on the future prospects of global growth.

Global Economic Outlook Report 2022

We will mention in the following lines the World Economic Outlook report 2022:

East Asia and the Pacific

Growth is expected to slow to 4.4 per cent in 2022 before it improves to 5.2 per cent in 2023.

Europe and Central Asia

The regional economy is expected to shrink by 2.9% in 2022 before it grows by 1.5% in 2023.

Latin America and the Caribbean

The growth rate is expected to slow to 2.5 per cent in 2022 and 0.91 per cent in 2023.

Middle East and North Africa

Growth is expected to accelerate to 5.3 per cent in 2022 before falling to 3.6 per cent in 2023.

South Asia

Growth is expected to slow to 6.8 per cent in 2022 and 5.8 per cent in 2023.

Sub-Saharan Africa

Growth is expected to slow to 3.7 per cent in 2022 and to rise to 3.8 per cent in 2023.