Global Economy on a steep Slowdown: According to the most recent World Bank study, the
global economy is experiencing a sharp decline after almost a year of uncertainty in 2022. TheWorld Bank report noted that the COVID-19 pandemics repercussions are still being felt todayin the form of education losses, worldwide inflation, supply chain disruptions, and other issueson a global scale.
The economy of the three biggest economies in the worldthe United States, China, and theeuro zonehave been rapidly slowing.
It went on to say that given the situation, even a slight blow to the world economy over the
course of the ensuing year may send it into a recession.
In its study, the World Bank also noted that the escalating intensity of natural disasters
continues to shed light on the social and economic effects of climate change.