Added on : 2022-06-08 15:20:03
Countries around the world are facing recession as the Ukraine war hits economies already rocked by the Covid pandemic, the World Bank has warned, BBC reported. Less developed countries in Europe and east Asia face a "major recession", it said. The risk of high inflation and low growth -- so -- called "stagflation" -- is also higher, World Bank President David Malpass said. Energy and food bills have been rising around the world.