World Bank warning: global economy at risk of recession | NASCAR Racing News

The World Bank warned on Tuesday that the global economy will come dangerously close to recession this year, led by weak growth in all of the world’s major economies – the United States, Europe and China.

In an annual report, the World Bank, which lends money to poor countries for development projects, said it cut its forecast for global growth this year by about half, to just 1.7%, from its previous forecast of 3%. If those projections prove accurate, it would be the third-weakest annual expansion in three decades, after the deep recession triggered by the global financial crisis of 2008 and the pandemic in 2020.

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