Will Omicron Have Mild Or Severe Effect On World Economy?
The World Bank warned that “Omicron-driven economic disruptions” would cause growth to decelerate.
Paris:
After limping its way back from the Covid pandemic last year, the global economic recovery has been rattled by the Omicron variant’s rapid rise.
The travel industry has been thrown into disarray again, workers have been forced to isolate at home and governments are facing a stark choice between imposing restrictions or letting the economy muddle through.
Could the highly-contagious Omicron variant have a severe impact on the recovery? Or will its mild symptoms keep the economy from sinking again?
How bad a hit on growth?
The World Bank on Tuesday trimmed its global forecasts for 2022, warning that “Omicron-driven economic disruptions” among other factors, would cause growth to “decelerate markedly” this year.
The Washington-based lender said growth would slow to 4.1 percent after the 5.5 percent rebound in 2021 but warned it could be…
