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Prospects have been pouring in that the global economy will continue to struggle for a while.

The World Bank and OECD have lowered the global economic growth rate for this year by 1.5%p more than originally expected. predicted.

In particular, he warned that the whole world could enter 'stagflation', in which prices soared even with low growth rates, such as during the oil shock of the 1970s.



Reporter Jo Ki-ho reports.



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U.S. retailers competed for a discount event this month.



It is normal to raise the price since the price has risen to the 8% level, but now it is important to reduce the accumulated inventory even if it is sold at a low price.



As consumers cut back on spending, they predict a recession will come.



The economic forecast released today (8th) also supports this trend.



The OECD lowered its global growth forecast for this year by 1.5 percentage points from seven months ago, and the World Bank lowered it by 1.2 percentage points from five months ago.



It is said that variables such as the Ukraine crisis and China's coronavirus lockdown have had a negative impact on the economy than expected.



The average price of OECD countries has jumped to 8.8% this year and 6% next year, and it is predicted that the world will suffer from high inflation.



[Janet Yellen/U.S. Treasury Secretary: We are currently in a macroeconomic crisis, including unacceptable levels of inflation.]



In particular, the World Bank diagnosed that it was faced with the risk of stagflation, in which prices rise and fall at the same time.



The rate of global economic growth will decline by 2.7 percentage points by 2024, which is twice as severe as during the infamous oil shock of the 1970s.



Although it is predicted that Korea's growth rate will be lower than that of other developed countries, it cannot be free from crisis.



[Ha Jun-kyung / Professor of Economics, Hanyang University: It is not a situation that meets the requirements for stagflation, but a kind of slow inflation.

Help the underprivileged through financial means...

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The World Bank ordered the world to overcome the crisis by maintaining production and lowering trade barriers, but there is also a trend to strengthen protectionism, so a joint response is not easy.



(Video editing: Park Chun-bae)