Director General of the World Trade Organization (WTO) Ngozi Okonjo-Iweala, on the sidelines of the G20 summit in Bali, Indonesia, informed about the impending recession of the world's leading economies.
According to the WTO functionary, the growing economic and energy crises against the background of the special operation in Ukraine, as well as the sharp increase in food prices, provoke a global economic catastrophe.
At present, several countries are already experiencing the consequences of negative trends of economic slowdown and sliding into recession, stated Ngozi Okonjo-Iweala.
Recall that in the first decade of October, the WTO issued an edited forecast of global economic growth in the range of 1% in 2023, which was much lower than the voiced before the start of the special operation in Ukraine, 3-4%.