(VOVWORLD) - The World Trade Organization (WTO) on Wednesday dramatically lowered its 2023 global trade growth forecast, as the conflict in Ukraine and other factors slow the world economy.
 The WTO’s headquarter in Geneva, Switzerland (Photo: Xinhua/VNA) |
Revising their annual trade forecast, WTO economists now anticipate global economy to grow just 2.8% this year in line with their projection in April.
Global GDP growth next year is expected to be 2.3%, down from the previous forecast of 3.2%.