The World Bank has issued a stark warning that the world economy is set to experience its weakest growth since the 1960s, downgrading its projected global GDP growth to 2.3% for 2025. The report highlights disruptions caused by aggressive US tariffs and a lack of international cooperation, leading to forecasts being downgraded across nearly three-quarters of countries. The US economy, in particular, is expected to decelerate significantly, while developing economies continue to decline, compounding worries of a global economic downturn.
"If current trends hold, average global growth for the 2020s would reach just 2.5 per cent - making this the worst-performing decade for the world economy since the 1960s."
"Outside of Asia, the developing world is becoming a development-free zone," said Indermit Gill, the World Bank's chief economist.
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