WASHINGTON: Global growth should remain stable this year and next, but at recent historic lows, the World Bank said Thursday, expressing particular concern about growth in developing countries.

Growth should hit 2.7pc in 2025 and 2026, in line with the level reached last year, the World Bank anno­unced in a new report, adding that inflation and interest rates should “decline gradually” over this period.

“Growth in developing economies is also expected to hold steady at about 4 per cent over the next two years,” the Bank said, noting that this was a weaker performance than before the Covid-19 pandemic.

Growth at this level would be “insufficient to foster the progress necessary to alleviate poverty and achieve wider development goals,” it added.

“Most of the forces that once aided their rise have dissipated,” World Bank chief economist Indermit Gill said in a statement, referring to the world’s developing economies. “In their place have come daunting headwinds: high debt burdens, weak investment and productivity growth, and the rising costs of climate change,” he added.

Published in Dawn, January 17th, 2025

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Electricity relief
05 Apr, 2025

Electricity relief

FINALLY, some tangible relief. With the worst of the inflationary storm now behind us, the government’s decision ...
Trump’s trade wars
05 Apr, 2025

Trump’s trade wars

THE so-called reciprocal tariffs rolled out recently by American President Donald Trump have expanded his vicious...
Legalised land grab
05 Apr, 2025

Legalised land grab

THE Modi government has passed a new bill targeting the Muslim community, this time eyeing swathes of priceless real...
More than words
Updated 04 Apr, 2025

More than words

Holistic development can only work when there is organic and credible political activity in the province.
Poor publicity
04 Apr, 2025

Poor publicity

FORTUNE does not seem to be favouring the PTI — at least not yet. With the party’s founder confined from public...
Party pooper
04 Apr, 2025

Party pooper

INDIA’s role of a spoilsport is tiresome. From pulling books from shelves, such as Wendy Doniger’s The Hindus: ...