World Bank Warns , Global Economy Teetering , Towards Recession.br On January 10, the World Bank warned that br the global economy is "perilously close" br to experiencing a recession in 2023.br Al Jazeera reports that the World Bank warning comes br amid weak growth among all of the world's top economies,br including the United States, Europe and China.br Al Jazeera reports that the World Bank warning comes br amid weak growth among all of the world's top economies,br including the United States, Europe and China.br Al Jazeera reports that the World Bank warning comes br amid weak growth among all of the world's top economies,br including the United States, Europe and China.br The World Bank's annual report said the br organization will slash its previous forecast br for global growth this year by nearly half.br Previously, the global money lender predicted global br growth would come in at 3, however the latest br annual report modified that prediction to 1.7.br The World Bank predicts that the U.S. br might narrowly avoid a recession this year,br despite annual growth of just 0.5. .br At the same time, the U.S. will remain vulnerable to br further disruptions of supply chains if COVID continues br to surge or Russia escalates its war in Ukraine.br Russia’s invasion of Ukraine has added br major new cost. The outlook is particularly br devastating for many of the poorest br economies where poverty reduction br is already ground to a halt and access to br electricity, fertiliser, food and capital is likely br to remain limited for a prolonged period, David Malpass, World Bank President, via Al Jazeera.br According to the World Bank, br poorer countries are expected to be br hit the hardest by a global downturn. .br Meanwhile, the tepid pace of per capita br income growth of just 1.2 in 2023 and br 2024 is expected to increase poverty rates.