Global Economy on Track for , Worst 5 Years of Growth , in 3 Decades.<br />The World Bank recently warned that <br />the global economy is headed toward its <br />worst half decade of growth in over 30 years.<br />CNBC reports that global growth <br />has been forecast to slow for the <br />third consecutive year in 2024. .<br />The World Bank said in its latest <br />'Global Economic Prospects' report that global <br />growth dropped from 2.4% to 2.6% in 2023.<br />In 2025, the organization predicts growth will rise <br />marginally to 2.7%, while acceleration is expected <br />to remain well below the average rate of the 2010s.<br />The World Bank warned that heightened <br />geopolitical tensions present challenges <br />that threaten to leave many economies with <br />slower growth than in the previous decade.<br />You have a war in Eastern Europe, <br />the Russian invasion of Ukraine. <br />You have a serious conflict <br />in the Middle East. , Ayhan Kose, World Bank deputy chief economist <br />and director of the Prospects Group, via CNBC.<br />Escalation of these conflicts could <br />have significant implications for <br />energy prices that could have<br />impacts on inflation as well <br />as on economic growth, Ayhan Kose, World Bank deputy chief economist <br />and director of the Prospects Group, via CNBC.<br />The World Bank went on to warn that without <br />a "major course correction," the 2020s will be <br />remembered as "a decade of wasted opportunity.".<br />Near-term growth will remain weak, <br />leaving many developing countries <br />— especially the poorest — stuck in <br />a trap: with paralyzing levels of debt <br />and tenuous access to food for <br />nearly one out of every three people, Indermit Gill, World Bank Group chief economist <br />and senior vice president, via CNBC.<br />Near-term growth will remain weak, <br />leaving many developing countries <br />— especially the poorest — stuck in <br />a trap: with paralyzing levels of debt <br />and tenuous access to food for <br />nearly one out of every three people, Indermit Gill, World Bank Group chief economist <br />and senior vice president, via CNBC.<br />The bank stressed that the world's goal of making <br />the 2020s a "transformative decade" appears to be <br />failing, but governments still have time to act. .<br />Investment booms have <br />the potential to transform <br />developing economies and <br />help them speed up the energy <br />transition and achieve a wide <br />variety of development objectives, Ayhan Kose, World Bank deputy chief economist <br />and director of the Prospects Group, via CNBC.<br />Investment booms have <br />the potential to transform <br />developing economies and <br />help them speed up the energy <br />transition and achieve a wide <br />variety of development objectives, Ayhan Kose, World Bank deputy chief economist <br />and director of the Prospects Group, via CNBC
