(VOVWORLD) - Global economy will expand by 2.7% and remain stable in both 2025 and 2026, according to the World Bank (WB)’s latest Global Economic Prospects report on Thursday.
 The World Bank's headquarters building in Washington, DC. (Photo: IRNA/VNA) |
Forecast growth matches what was achieved in 2023 and 2024, but is still 0.4% lower than the average growth between 2010-2019. The slowdown reflects long-term damage caused by the COVID-19 and Russia-Ukraine conflict.
Growth in developing economies is also expected to hold steady at about 4% over the next two years. This, however, would be a weaker performance than before the pandemic—and insufficient to foster the progress necessary to alleviate poverty and achieve wider development goals.
Growth in East Asia, Pacific, Europe, and Central Asia is expected to decelerate due to lower demand in China and “the Old Continent”, while sub-Saharan Africa, Latin America, the Middle East, and North Africa will see stronger growth.