Global growth to 'decelerate markedly' in 2022, says World Bank

Global growth will "decelerate markedly" this year as Covid-19 outbreaks and supply chain snarls persist while government aid programs expire, the World Bank said Tuesday.

The Washington-based development lender forecast growth would slow to 4.1 percent this year from an estimated 5.5 percent in 2021, but warned "Omicron-related economic disruptions could substantially reduce growth" to as low as 3.4 percent.