Tag Archives: World Bank warns of ‘stagflation’ as Ukraine war chokes global growth

WASHINGTON: The global economy risks falling into a harmful period of 1970s-style “stagflation,” sparked chiefly by Russia’s invasion of Ukraine, the World Bank warned on Tuesday as it slashed its annual growth forecast. The toxic combination of weak growth and rising prices could trigger widespread suffering in dozens of poorer countries still struggling to recover from the upheaval of the …

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