World Bank: Global Growth Slows Significantly
The World Bank has lowered its forecast for global economic growth in 2023 to 2.5%, the lowest level since the COVID-19 pandemic, due to the impacts of the war in the Middle East and volatility in energy markets. The average Brent crude oil price is expected to reach $94 per barrel this year, with the possibility that growth could drop to 2.1% if energy supply disruptions persist, or to 1.3% if financial conditions worsen and fluctuations increase.
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