The World Bank’s latest Global Economic Prospects report highlights that heightened trade tensions and ongoing policy uncertainty are expected to slow global economic growth to its weakest level since the 2008 financial crisis.

The report notes that nearly 70% of economies worldwide have seen their growth forecasts downgraded, affecting countries across all regions and income groups.

Global growth is now projected to slow to 2.3% in 2025, representing a nearly half-percentage-point reduction from the rate forecasted earlier this year.

Despite these challenges, the World Bank does not anticipate a global recession in the near term. However, if current projections are realized, the average annual growth during the first seven years of the 2020s will be the slowest recorded since the 1960s, underscoring a prolonged period of subdued economic expansion.

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