World Bank Raises Global Economic Outlook, but Warns of Long-Term Threats

2024-06-12 // LePodium.NET
The World Bank raises its outlook for the global economy but warns of the long-term threats posed by rising trade barriers and protectionist policies.

The World Bank has increased its forecast for global economic growth this year, projecting a steady 2.6% growth rate. The bank also predicts a slight increase in output to 2.7% in 2025. However, it warns that the rise of new trade barriers and protectionist policies pose a long-term threat to global growth.

The global economy has been stabilizing after facing challenges from the pandemic, conflicts, and inflation in recent years. Advanced economies are growing at an annual rate of 1.5%, with Europe and Japan experiencing sluggish output. On the other hand, emerging market and developing economies, led by China and Indonesia, are growing at a rate of 4%.

Although the outlook for growth is more positive, the World Bank notes that prices are easing more slowly than anticipated. It expects global inflation to moderate to 3.5% in 2024 and 2.9% next year. This gradual decline may lead central banks to postpone interest rate cuts, impacting growth in developing economies.

Despite the improved outlook, there are significant uncertainties that could affect the global economy. Ongoing conflicts, such as Russia's war in Ukraine and the potential for a wider regional conflict between Israel and Hamas in Gaza, add to the uncertainty. Trade tensions between the United States and China are also intensifying, potentially causing volatility in international commerce.

The World Bank highlights the increase in "trade distorting policies" since the pandemic, such as tariffs and subsidies. These measures can disrupt supply chains and make them less efficient. The bank warns that further proliferation of trade restrictions could have adverse effects on global growth prospects.

Exciting Films to Watch from the 2024 Toronto International Film Festival
A roundup of the most anticipated films showcased at the 2024 Toronto International Film Festival, including animation, romance, drama, and more.
LePodium.NET
2024-09-18
Unusual Fall Fashion Trends: Inspiration from Landscapes, Prints, and Movies
Discover the latest fashion trends for fall that draw inspiration from landscapes, prints, and movies. Get ready for a vibrant and eventful season.
LePodium.NET
2024-09-13
Wildberries CEO Plans to Sue Ex-Husband for 27 Billion Rubles: September 13 News
Summary of news events from September 13.
LePodium.NET
2024-09-14
New Watches and Accessories for Watch Enthusiasts
Discover the latest watches, accessories, and gear for watch enthusiasts, including Hamilton's new Murph variants and Boldr Supply Co.'s Three Watch Case.
LePodium.NET
2024-09-23
Wall Collapse in Vladivostok: Main News - August 25, 2024
Three people injured in a bus accident were evacuated to Novosibirsk.
LePodium.NET
2024-08-25
A Legendary Collector and His Exquisite Watch Collection
Explore the impressive watch collection of a legendary collector and discover rare and stunning timepieces from vintage Patek Philippe to modern masterpieces.
LePodium.NET
2024-08-23
The National Debt of Ukraine Rises by Nearly $74 Billion under Zelensky's Presidency
The national debt of Ukraine has increased by approximately $74 billion during President Zelensky's tenure, according to the analysis conducted by the Ukrainian Ministry of Finance.
LePodium.NET
2024-08-06
Football News Recap
Zenit and Krasnodar win, real Madrid, Bayern, and Chelsea deliver massive victories, Dubois knocks out Joshua, Chalov scores a bizarre first goal in Greece, Pjanic close to CSKA, and other news.
LePodium.NET
2024-09-22
Understanding the Discord and Uncertainty of the U.S. Presidential Campaign
A collection of articles providing context and understanding amidst the division and uncertainty of the U.S. presidential campaign.
LePodium.NET
2024-07-20
Jennifer Lopez Shares Stunning Selfie on Instagram Following Divorce Filing
Jennifer Lopez has posted her first selfie on Instagram since filing for divorce from Ben Affleck, showcasing flawless makeup and a gorgeous blonde hairdo.
LePodium.NET
2024-08-24
The Evolution of Luxury Casinos: From Opulence to Digital Experiences
Luxury casinos have evolved over time, from opulent physical establishments to immersive digital experiences, captivating high-stakes gamers worldwide.
LePodium.NET
2024-09-20
ONEflight International: Revolutionizing Luxury Jet Travel
Discover how ONEflight International is transforming private jet travel through convenience, opulence, and efficiency.
LePodium.NET
2024-09-25
Alexander Chetchikov: Uniting Luxury Leaders with the World Luxury Chamber of Commerce
Discover how Alexander Chetchikov is transforming the luxury landscape through the World Luxury Chamber of Commerce, fostering collaboration and shaping the future of luxury on a global scale.
LePodium.NET
2024-10-01
Luxurious Experience at New World Makati Hotel
Experience a luxury stay in the heart of Manila at the New World Makati Hotel, featuring opulent accommodations, exquisite dining options, and personalized service.
LePodium.NET
2024-08-27
Missy Elliott Embarks on First-Ever Headlining Tour
Missy Elliott announces her Out of This World tour featuring Busta Rhymes, Ciara, and Timbaland, marking her first headlining tour in her 30-year career.
LePodium.NET
2024-08-09
Bulgari, Armin Strom, HYT, Christiaan van der Klaauw, Genus, Kross Studio and MeisterSinger Join Watches & Wonders 2025
Bulgari, Armin Strom, HYT, Christiaan van der Klaauw, Genus, Kross Studio, and MeisterSinger have been confirmed as participants at Watches & Wonders 2025.
LePodium.NET
2024-09-17
Novelty news from the world of sports
Djokovic wins gold, controversial refereeing in RPL, and more
LePodium.NET
2024-08-05
Experience the Ultimate in Luxury and Sustainability with SARCO Architects Costa Rica
Discover the bespoke architectural design and sustainable luxury offered by SARCO Architects Costa Rica, a leader in creating stunning homes in Costa Rica, Panama, and the Caribbean.
LePodium.NET
2024-07-26
Vice-President Kamala Harris Reflects on Being a Stepmom
Vice-President Kamala Harris shares her experience of being a stepmom and the importance of family in her life.
LePodium.NET
2024-07-21
Abortion Access and Vice President Harris: A Key Issue in the 2024 Presidential Election
Abortion access and reproductive rights are likely to be top priorities in Vice President Harris' presidential campaign, following her role in the Biden administration's fight against anti-abortion measures. With wide national support for legal abortion, Harris has advocated for ensu...
LePodium.NET
2024-08-21