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The global economy is set to flatline this year amid fears including fresh US tariffs hitting trade, the World Bank has stated.
Growth of 2.7% would be the joint weakest performance since 2019, aside from the sharp contraction seen at the height of the Covid-19 pandemic.
It is a rate the world can “live with” according to the bank’s deputy chief economist Ayhan Kose, but would not be enough to improve people’s living standards in rich and poor countries.
He said trade tariffs, which President-elect Donald Trump has threatened to introduce on imports to the US, could have worldwide economic consequences.
