to intervene and cushion German citizens from rising energy costs. Other European countries have announced similar packages.
The current stagflation environment is similar to the 1970s episode of the same phenomenon. The fundamentals this time around, according to Malpass and the World Bank, are much direr in the sense that the rate of economic deceleration currently is double the rate of a slowdown in the 1970s. Malpass now believes that the world is in for several years of above-average inflation and below-average growth. This projection will most likely lead to destabilizing consequences for low- and middle-income economies. These low- and middle-income countries are largely on the African continent. Stagflation which the world last saw in the 1970s, will have a devastating effect on countries in Africa.
TheExchangeEA history EconomicCrisis
TheExchangeEA history EconomicCrisis
TheExchangeEA history EconomicCrisis