The World Bank issued a bleak forecast for the global economy on June 7. As a result, the World Bank has cut its forecast for global GDP growth this year from 4.1% to 2.9%. Oil and gas producing countries benefit from rising fuel pricesThe Middle East and North Africa, however, saw its 2022 GDP growth forecast improve from 4.4% to 5.9%. The World Bank expects Guyana to similarly benefit from high oil and gas prices. The World Bank predicts Guyana’s economy will now double in size by the end of 2023.

Source: The North Africa Journal June 07, 2022 22:25 UTC