Growth in the world’s richest economies is likely to continue its sharp slowdown from 5.3% in post-pandemic 2021 to 2.5% in 2022 and just 0.5% this year. The report blames a number of factors stemming from Russia’s invasion of Ukraine and the impact of the pandemic. The impacts of higher interest rates are picked out as the key challenge for policy makers to overcome. If a global recession were to occur, it would be the first time since the 1930s that there have been two global recessions within the same decade. Are we likely to experience global recession ?

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