World Bank: Economy set for worst run since 2008 outside of recessions
World Bank: Economy set for worst run since 2008 outside of recessions
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The World Bank's latest report predicts a slowdown in global growth due to trade frictions and policy uncertainty, particularly related to US tariffs. Growth is expected to decline to 2.3% in 2025, marking the slowest pace since 2008 outside of recessions. The report highlights challenges such as rising geopolitical tensions, extreme climate events, and slower growth in major economies. It emphasizes the need for support to address these issues and suggests that resolving trade disputes could improve growth prospects.
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