Posted on 06/07/2022 8:19:24 PM PDT by RomanSoldier19
Countries around the world are facing recession as the Ukraine war hits economies already rocked by the Covid pandemic, the World Bank has warned.
Less developed countries in Europe and east Asia face a "major recession", it said.
The risk of high inflation and low growth - so-called "stagflation" - is also higher, World Bank President David Malpass said.
Energy and food bills have been rising around the world.
"The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid," Mr Malpass said.
He also warned in the World Bank's Global Economic Prospects report for June that the danger of stagflation was "considerable".
"Subdued growth will likely persist throughout the decade because of weak investment in most of the world. With inflation now running at multi-decade highs in many countries and supply expected to grow slowly, there is a risk that inflation will remain higher for longer."
(Excerpt) Read more at bbc.com ...
BS
Yeah, nothing at all to do with complete incompetence or outright malfeasance from the NWO crowd.
let me get this straight. Leftists say WW2 fixed the great depression. But War in Ukraine is going to cause a recession.
Ukraine has little to do with it. Chocking off the energy supply, thats the majority reason for all the current and soon to be even worse economic environment.
“World Bank”.....didn’t they buy their credibility at the same place as the World Health Organization?
Marxists say: NOT OUR FAULT!!!
World runs on oil.
Dementia Joe has declared war on oil.
News at 11.
“World Bank warns of recession risk due to Ukraine war”
NOPE!!! Sorry, but the war isn’t causing the recession, it is the West’s response to the war, specifically, the NEOCON response to the war (which they started in the first place).
🔝🔝🔝
Is there a better solution??
What do Yellen and the World Bank have in common?
They both make up shit about the problem even though they are both complicit.
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