The World Bank has lowered its global GDP growth forecast for 2025 to 2.3%, the lowest level in five years
According to BlockBeats, on July 6th, the World Bank lowered its 2025 global GDP growth forecast by 0.4 percentage points to 2.3%, the lowest level in five years. This will be the weakest growth in 17 years except for 2008 and 2020. In addition, it is expected that the US economy will grow by 1.4% this year, lower than the earlier forecast of 2.3%. The global economic growth rate is expected to average 2.5% in the first seven years of this century, the slowest decade since the 1960s. Overall, the World Bank has lowered its forecasts for about 70% of economies, indicating that the global economic outlook is deteriorating. (The Kobeissi Letter)