The global economy may be headed for years of weak growth and rising prices, a toxic combination that will test the stability of dozens of countries still struggling to rebound from the pandemic, the World Bank warned on Tuesday.

Axar.az reports the 189-country anti-poverty agency predicted that the world economy will expand by 2.9 per cent this year. This would be markedly lower from the 5.7 per cent global growth in 2021 and the 4.1 per cent it had forecast for 2022 in its January outlook.

Advanced and a good number of developing economies had their forecasts also lowered due to the high inflation caused by the supply-chain disruption and higher commodity prices after Russia’s invasion of Ukraine.