World Bank warns global economy on ‘razor’s edge’ of recession

The global economy is “on a razor’s edge” and risks falling into recession this year, World Bank officials have warned as the institution unveiled its latest projections for global growth.

The Washington-based organisation expects the world economy to grow by just 1.7 per cent this year, a sharp fall from an estimated 2.9 per cent in 2022, according to the latest edition of its twice-yearly Global Economic Prospects report, published on Tuesday.