World Bank boss warns over global recession

0
97
The the property group said the capital loss reflects the current portfolio’s CBD concentration.

THE head of the World Bank has warned that Russia’s invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump.

David Malpass told a US business event on Wednesday that it is difficult to “see how we avoid a recession”.

He also said that a series of coronavirus lockdowns in China is adding to concerns about a slowdown.

His comments are the latest warning over the rising risk that the world economy may be set to contract.

“As we look at the global GDP… it’s hard right now to see how we avoid a recession,”  Malpass said, without giving a specific forecast.

“The idea of energy prices doubling is enough to trigger a recession by itself,” he added. – bbc.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here