A UN report has lowered the outlook for world economic growth in 2022 and 2023. The UN World Economic Situation and Prospects 2022 report projects global output to grow by 4 percent this year, and 3.5 percent the next. The report says world economic recovery still faces huge headwinds amid new COVID-19 waves, labor market and supply-chain challenges, and rising inflationary pressures. A UN official says interest rate increases in developed countries could trigger capital outflow in some emerging countries.