The International Monetary Fund yesterday cut its global economic growth forecast for 2022 to 3.2 per cent in its report titled ‘Gloomy and more uncertain’, as the Ukraine-Russia conflict continues to disrupt the global supply chain.
The Washington-based lender had in the World Economic Outlook report titled, “War sets back global recovery, in April forecast global growth of 3.6 per cent for 2022.
However, the global bank retained Nigeria’s growth forecast for 2022 at 3.4 per cent.
According to the latest report, a tentative recovery in 2021 has been followed by increasingly gloomy developments in 2022 as risks began to materialize.
