According to a WB s latest Global Economics Prospects report, the 2022 devastating floods and slowdown in global growth have contributed to what it termed as
World Bank forecasts global growth to dip to 2.9% in 2022 from 5.7% in 2021; per capita income in developing countries nearly 5% below pre-pandemic level
The summary of the World Bank’s report on the state of the world economy reads like an indictment of the political and financial authorities responsible for economic policies.
Sri Lanka is expected to grow 3.3 percent in 2021, recovering from Coronavirus pandemic but is clouded by pre-existing macroeconomic weaknesses, Washington-based World Bank said.