World to face deepest recession since WW2, global economy to shrink by 5.2% this year – World Bank
The global economy will shrink by 5.2% this year, the deepest recession since the Second World War, the World Bank said on Monday (June 8).
The multilateral lender forecasts economic activity among advanced economies to shrink 7% and emerging market and developing economies by 2.5% this year.
Per capita incomes are expected to decline by 3.6%, which the World Bank said will tip millions of people into extreme poverty.
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