US EditionWorld Bank Warns 2020s Face Weakest Global Growth Since ’60s
- The World Bank released its Global Economic Prospects report on June 10, warning that the 2020s will see the slowest global growth since the 1960s.
- The report attributes this slowdown to tariff increases, heightened policy uncertainty, and slower growth in major economies, including the impact of on-again, off-again US tariffs.
- Economic growth forecasts were lowered for nearly 70% of countries, with the US downgraded to 1.4% in 2025 and Europe to 0.7%, while developing economies are expected to suffer significant losses.
- Global inflation is expected to remain above pre-COVID levels at 2.9% in 2025 due to tariff pressures and tight labor markets, while global trade growth is forecast to slow to 1.8% in 2025 from 3.4% in 2024.
- The World Bank cautioned that if trade restrictions and policy uncertainty persist, global growth could weaken further, potentially deepening financial stress and harming living standards worldwide.
25 Articles
25 Articles
By Anna Cooban, CNN Global economic growth is headed toward its weakest decade since the 1960s, according to a new analysis from the World Bank, which points to President Donald Trump's trade war as a key factor affecting economies around the world. The World Bank expects Trump's wave of new tariffs on US trading partners to reduce global economic growth to its lowest level since the 2008 financial crisis, excluding global recessions, according …
By Anna Cooban, CNN Global economic growth is headed toward its weakest decade since the 1960s, according to a new analysis from the World Bank, which points to President Donald Trump's trade war as a key factor affecting economies around the world. The World Bank expects Trump's wave of new tariffs on US trading partners to reduce global economic growth to its lowest level since the 2008 financial crisis, excluding global recessions, according …
World Bank cuts global growth forecast to 2.3% for 2025
If current projections hold, average global growth in the first seven years of the 2020s would be the slowest of any decade since the 1960s. The post World Bank cuts global growth forecast to 2.3% for 2025 appeared first on Premium Times Nigeria.
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