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16 Jan 2024

World Bank Forecasts Worst Decline in 30 Years

The World Bank forecasts a global economic slowdown for 2024, marking [the weakest performance since the 1990s](https://www.msn.com/en-us/money/markets/global-economy-headed-for-worst-half-decade-in-30-years-world-bank-warns/ar-AA1mHgs1). Growth is expected to be sluggish at 2.4%, trailing the 2010s average. This downturn threatens the achievement of the UN's 2030 development goals, from eradicating poverty to education and environmental targets. Inflation is easing but remains above optimal levels. The U.S. is predicted to outpace Europe and Japan, while China's growth is also set to decline. Global challenges, including the war in Gaza and Suez Canal disruptions, pose further risks.