"World Bank Warns of Worst Half-Decade for Global Economy in 30 Years"
Originally Published 2 years ago — by The Washington Post
The World Bank warns that the global economy is set to slow for the third consecutive year, with growth rates expected to be the weakest in 30 years. Despite progress in controlling inflation, the overall economic performance is lagging, and world leaders are likely to miss the 2030 development goals. The report highlights that a quarter of developing countries are now poorer than before the pandemic, and ongoing geopolitical tensions could further dampen global growth. The bank suggests that implementing policy changes, such as expanded trade and capital flows, could fuel an investment boom in developing countries and help improve economic prospects.