Posted by on January 14, 2022 3:09 pm
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Global Growth Will Slow in 2022 Due to Inflation, Supply Chain Disruptions, and Omicron: UN Report

In 2021, the world economy surged to a growth spurt not seen in 40 years, but the momentum is expected to lose steam during this year and the next, said the United Nations, owing to lingering supply-chain constraints, rising inflation, and new waves of COVID-19 infections. “After a global contraction of 3.4 percent in 2020 and following an expansion of 5.5 percent in 2021, the highest rate of growth in more than four decades, the world economy is projected to grow by 4 percent in 2022 and 3.5 percent in 2023,” according to the World Economic Situation and Prospects 2022 report published Thursday. Even as global economies start recovering from the pandemic-era lockdown and restrictions, free flow of commerce and industry remains fragile with the advent of the Omicron variant that has disrupted workers returning to offices and contributed to logistical constraints. “Near-term global growth prospects face major risks with …

Originally appeared on The Epoch Times

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