The World Bank has lowered its forecast for global economic growth this year citing the impact of the war in Ukraine, World Bank President David Malpass said on Monday. The global growth outlook was reduced to 3.2 percent from 4.1 percent. The downgrade largely reflects the weaknesses seen in Europe and central Asia, which cover Russia and Ukraine, he said. Forecasts for advanced and many developing economies were also lowered because of high inflation caused by the supply-chain disruption after Russias invasion of Ukraine.The World Bank mobilized nearly $1 billion in emergency financing for Ukraine, and announced another $1.5 billion to support essential government services, the top official said.
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