The recovery from the COVID-19 pandemic allowed the world economy to rebound in 2022, but several challenges remain such as supply chain disruptions due to lockdown measures in China and the ongoing Russia-Ukraine war causing a hike in prices of goods, particularly in fuel and raw materials. These factors pushed global inflation to 8.8% and lowered the earlier global growth projection of 4.4% to 3.2%
Annual Report 2022
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