The World Bank is projecting global growth of 5.6 percent this year, the strongest post-recession recovery seen in 80 years. In a report released Tuesday, the multilateral institution raised its forecast from January, when it was expecting the global economy to expand 4.1 percent. The global economy last year contracted by 3.5 percent due to COVID-19 pandemic. ADVERTISEMENTThe World Bank said in Tuesday's report that economic growth going forward will benefit some countries more than others. “While there are welcome signs of global recovery, the pandemic continues to inflict poverty and inequality on people in developing countries around the world,” World Bank Group President David Malpass said in a statement Tuesday.

Source: The North Africa Journal June 08, 2021 15:56 UTC