Global Growth was expected to strengthen significantly in 2022 against the backdrop of the perceived marginal impact of the omicron variants, abatement in supply chain disruptions and expected deceleration in inflationary pressures. However, things turned for the worse as the geopolitical tensions between Russia and Ukraine rattled the commodities market, worsened supply chain bottlenecks, propelled inflationary pressures and heightened uncertainties. As such, major economies witnessed a deacceleration in growth, which is expected to linger in the near term given the aforementioned factors.