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Global growth could slow sharply due to Omicron: World Bank


The World Bank said vaccination campaigns are key to protecting the global economy from new waves of Covid-19 that threaten to slow growth

Global growth will “decelerate markedly” this year, but the Omicron variant of Covid-19 that is spreading rapidly worldwide could make the situation worse and exacerbate labor shortages and supply chain snarls, the World Bank warned Tuesday.

That would exacerbate ongoing struggles with labor shortages and global production and transportation snarls that have fueled a wave of price increases.

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