"World Bank Warns of Weakest Global Economic Growth in 30 Years"

The World Bank has warned that the global economy is expected to grow at its slowest pace since the pandemic, with a forecasted growth of just 2.4% in 2024. Higher interest rates, conflicts in Ukraine and the Middle East, and disruptions to global trade routes are contributing to the sluggish growth. The report highlights concerns about paralyzing levels of debt, tenuous access to food, and geopolitical risks. While advanced economies are projected to recover better from the pandemic, poorer nations are facing challenges in affordability and recovery. The World Bank emphasizes the need for increased investments, particularly from the private sector, to address challenges such as climate change and the energy transition.