Business daily

World Bank warns of uncertain outlook and subdued growth in global economy

Vaccine rollout remains slow across much of the world.
Vaccine rollout remains slow across much of the world. © FRANCE 24

The World Bank has downgraded its previous prediction for global growth in 2021 to 4 percent. The organisation warned of a subdued recovery that could lag even further if countries do not stem the rise in coronavirus infections and effectively deploy vaccines. The European Union is also starting to look ahead to how to spend its recovery fund – with the largest recipient, Italy, on the brink of political crisis.