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World Bank downgrades global growth forecast amid trade war
Orissa POST
|June 11, 2025
President Donald Trump's trade wars are expected to slash economic growth this year in US and around the world, World Bank forecast Tuesday.
Citing “a substantial rise in trade barriers" but without mentioning Trump by name, the 189-country lender predicted that US economy the world's largest would grow half as fast (1.4 per cent) this year as it did in 2024 (2.8 per cent).
That marked a downgrade from the 2.3 per cent US growth it had forecast back for 2025 back in January. The bank also lopped 0.4 percentage points off its forecast for global growth this year. It now expects the world economy to expand just 2.3 per cent in 2025, down from 2.8 per cent in 2024.
“The world economy today is once more running into turbulence. Without a swift course correction, the harm to living standards could be deep.” World Bank chief economist Indermit Gill wrote.
Dit verhaal komt uit de June 11, 2025-editie van Orissa POST.
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