The World Bank has lowered its forecast for global economic growth to 2.3 percent in 2025, about half a percentage point lower than its previous estimate at the beginning of this year. This represents the slowest pace since the 2008 global financial crisis, excluding recessions. This is due to escalating trade tensions and worsening political uncertainty.
According to the bank's latest report, "Global Economic Prospects," the turmoil has led to lower growth forecasts for nearly 70 percent of the world's economies, regardless of their geographic region or income level.
Although the risk of a global recession is not imminent, the bank's forecasts indicate that average global economic growth during the first seven years of this decade will be the weakest since the 1960s.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
