[geoffcampbell64]

The World Bank's latest Global Economic Prospects report paints a grim picture for the global economy in 2023 and 2024. Global growth is slowing sharply due to elevated inflation, higher interest rates, reduced investment, and geopolitical tensions. Growth in advanced economies is projected to slow to 0.5% in 2023, while growth in emerging market and developing economies is expected to slow to just 2.7%. Per-capita income growth in emerging market and developing economies is projected to average just 2.8%, and in Sub-Saharan Africa, growth in per capita income is expected to average just 1.2%.