World Bank Warns of Slowest Global Growth Since 1960s

The World Bank has issued a stark warning, forecasting that the 2020s may become the weakest decade for global economic growth since the 1960s. In a recent report, the institution cited a range of factors contributing to the downturn, including geopolitical tensions, rising debt levels, aging populations, and declining productivity.

Global growth averaged just 2.6% annually between 2011 and 2021, and projections suggest it could fall even further by 2030 unless significant policy changes are implemented. The World Bank highlighted that many developing countries are facing mounting challenges in attracting investment, boosting employment, and improving living standards.

The report also emphasized the importance of increasing investment in infrastructure, education, and digital technology to reignite economic momentum. Without such efforts, the global economy risks entering a prolonged period of stagnation, making it more difficult for poorer nations to catch up with wealthier ones.

According to World Bank officials, the current decade presents a critical opportunity to reverse the trend. By implementing reforms that encourage innovation, trade, and sustainable development, governments can help lay the groundwork for more robust and inclusive growth in the years ahead.