World Bank forecasts 2024 global growth to slow for third consecutive year

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The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first half of the 2020s now looks like it will be the worst half-decade performance in 30 years, it added. Global GDP is likely to grow 2.4 per cent this year, the World Bank forecast in its latest Global Economic Prospects report. That compares to 2.6...