The World Bank expects global economic growth to slow for the third consecutive year in 2024, amid rising interest rates, persistent inflation, declining trade, and declining Chinese economic growth.
According to the World Bank, the global economy will grow by just 2.4 percent this year. That would be lower than growth of 2.6 percent in 2023, 3 percent in 2022, and 6.2 percent in 2021, reflecting a strong recovery from the pandemic recession in 2020.
Rising global tensions, arising in particular from Israel's war in the Gaza Strip and the conflict in Ukraine, pose a risk of weaker growth.
Source (Al-Arabiya.net Website, Edited)
