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Business Matters: Global economy risks a second recession

Global economy risks a second recession

11/01/2023 GMT

BBC World Service - Business Matters, Global economy risks a second recession

The global economy is weakening as a result of inflation, high interest rates and war.

The world economy will grow by just 1.7% this year, according to the World Bank - a sharp decrease from the 3% it predicted in June.

The global economy is "perilously close to falling into recession", according to the latest forecast from the World Bank, as the impacts of the Ukraine war and Covid pandemic continue to be felt across the world.

In fact, Pakistan and Sri Lanka are already struggling to keep their heads above water. Leaders in politics and economics share their thoughts with us on the economic challenges facing those countries.

Meanwhile Publisher Transworld has said Prince Harry’s memoir Spare has sold 400,000 copies in the UK across hardback, e-book and audio formats on its first day of publication.  It means the very well-played promotional campaign around the book did work.

(Picture: The World Bank logo seen displayed on a smartphone. Picture Credit: Getty Images)

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