World Bank Warns of Weakest Economic Growth Since COVID Amid Energy Price Surge
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The World Bank expects only modest global economic growth in 2026, marking the weakest expansion since the COVID-19 pandemic. Rising inflation and a sharp increase in energy prices following a crisis in the Strait of Hormuz have disrupted the global economic recovery. The strategic waterway crisis has blocked oil shipments and driven up energy costs worldwide, creating additional headwinds for the global economy as it struggles to regain momentum from the pandemic's aftermath.