"For developing economies, the decline will be equally steep from 6 per cent a year between 2000 and 2010 to 4 per cent a year over the remainder of this decade,” the report said.
WASHINGTON, 27th March, 2023 (WAM) The average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, a new World Bank report warns.
“The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is needed to boost productivity and the labor supply, ramp up investment and trade, and harness the potential of the services sector,” said the report issued.
World Bank: Global Economy's 'Speed Limit' Set to Fall to 30-Year Low – THISDAYLIVE thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.