Global growth could slow sharply because of Omicron: World Bank

The World Bank has said vaccination campaigns are essential to protect the global economy from new waves of Covid-19 that threaten to slow growth

Global growth will ‘decelerate significantly’ this year, but the rapidly spreading Omicron variant of Covid-19 could make matters worse and exacerbate labor shortages and supply chain grunts, the World Bank warned on Tuesday.

This would exacerbate the ongoing struggles with labor shortages and global grunts in production and transportation that have fueled a wave of price hikes.

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