Global Growth Expected to Remain at 2.6% in 2024, According to World Bank Report
According to the World Bank report published in mid-June 2024, global growth is expected to maintain a rate of 2.6% in 2024.
Considering the persistence of inflationary pressures, central banks remain cautious about easing their monetary policy. As a result, interest rates are expected to remain significantly higher than before the pandemic.
Global growth is expected to remain weak during the forecast period, hovering around half a percentage point below its 2010-2019 average. High debt levels and increased debt servicing costs highlight the importance for policymakers in emerging and developing economies to balance significant investment needs with budgetary sustainability. To support long-term growth, it is crucial to implement measures aimed at stimulating productivity growth and improving the efficiency of public investments.
The report recommends developing human capital and reducing gender gaps in the labor market.
Source: banquemondiale.org