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World Bank: Economy heading for worst performance since 2008, apart from recessions

2025-06-10 18:54:00, Ekonomi CNA

World Bank: Economy heading for worst performance since 2008, apart from

Trade frictions and political uncertainty, particularly related to US tariffs, are expected to drag global growth this year to its slowest pace since 2008, short of outright global recessions.

This finding is stated according to the World Bank's latest report on Global Economic Prospects, published this Tuesday.

Although the world was approaching a "soft landing" after the pandemic just six months ago, the bank noted that the global economy is now facing turbulence again.

The bank cut growth forecasts for nearly 70% of all economies. When it comes to global expansion, that total is projected to slow to 2.3% in 2025, nearly half a percentage point lower than the rate expected at the beginning of the year.

A global recession is not imminent, but if forecasts for the next two years come true, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s, according to the World Bank.

In addition to trade and political uncertainty, headwinds to global growth include rising geopolitical tensions, increasingly common extreme weather events, and slower-than-expected growth in major economies, which risks global repercussions. /CNA





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