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Outbreaks, bottlenecks expected to slow global growth in ‘22

by staff

The World Bank building in Washington on April 5, 2021. The World Bank is downgrading its outlook for the global economy. It blames continuing outbreaks of COVID-19, a reduction in government economic support and ongoing bottlenecks in global supply chains. The 189-country, anti-poverty agency forecasts worldwide economic growth of 4.1% this year. That’s down from the 4.3% growth it was forecasting last June. In its Global Economic Prospects report out Tuesday, Jan. 11, 2022 the World Bank projects that the U.S. economy will grow 3.7% this year, down from 5.6% in 2021. (Andrew Harnik/AP)

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