WASHINGTON – The global economy’s potential growth through the end of the decade has slowed to the weakest in 30 years, the World Bank said, citing fallout from the coronavirus pandemic and the conflict in Ukraine.
“A lost decade could be in the making for the global economy,” Mr Indermit Gill, the World Bank’s chief economist and senior vice-president for development economics, said in a release accompanying the report. The silver lining of the multilateral development bank’s 550-page report: Potential growth could reach as high as 2.9 per cent, marking an acceleration should policymakers deploy the right plans to boost productivity and labour supply and shore up investment.
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