The bank's latest outlook marks an increase from the 2.4% growth for 2024 it had predicted in January. And it would match the global economy's 2.6% expansion in 2023.
But the agency cautioned that global growth remains sluggish by past standards, that the poorest countries are struggling under the weight of heavy debts and high interest rates and that increased trade barriers endanger prosperity worldwide. The brutal wars in Ukraine and Gaza are inflicting further pressures on regional economies.
Stronger-than-expected growth in the United States - the world's biggest economy - accounted for 80% of the World Bank's upgraded outlook. The agency now expects the U.S. economy to expand 2.5% in 2024, the same as in 2023 but up sharply from the 1.6% the bank had predicted in January.
"U.S. growth is exceptional," Ayhan Kose, the bank's deputy chief economist, told ahead of the release of its latest Global Economic Prospects report.
The World Bank, made up of 189 member nations, seeks to reduce poverty and boost living standards by providing grants and lowrate loans to developing economies.
هذه القصة مأخوذة من طبعة June 14, 2024 من AppleMagazine.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 14, 2024 من AppleMagazine.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
AUSTRALIA WON'T FORCE SOCIAL MEDIA USERS TO SHARE THEIR PERSONAL DETAILS WHEN CHILD BAN TAKES EFFECT
Australia’s communications minister said this week the government won’t force social media users to hand over their personal information to tech companies, as children younger than 16 are set to be banned from the platforms.
FORD, FACING ECONOMIC HEADWINDS AND WEAK EV SALES, TO CUT 4,000 JOBS IN EUROPE
Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.
SPIRIT AIRLINES FILED FOR BANKRUPTCY. WHAT DOES THAT MEAN FOR TRAVELERS?
Spirit Airlines, the largest budget carrier in the U.S., filed for Chapter 11 bankruptcy protection this week. The airline said customers should not see any disruption to their travel plans while the process unfolds.
MEET THE WORKOUT GROUP THAT GETS PEOPLE EXERCISING OUTDOORS, EVEN IN THE DEAD OF WINTER
The sun had yet to come up in Edmonton, Alberta, and it was more than 20 degrees below zero. Tanis Smith layered up anyway, ready to run up and down hundreds of stairs among the trees in the Saskatchewan River Valley.
ABOUT 20% OF AMERICANS REGULARLY GET THEIR NEWS FROM INFLUENCERS ON SOCIAL MEDIA, REPORT SAYS
About one in five Americans - and a virtually identical share of Republicans and Democrats regularly get their news from digital influencers who are more likely to be found on the social media platform X, according to a report released this week by the Pew Research Center.
COMCAST TO SPIN OFF CABLE NETWORKS, ONCE STAR PERFORMERS FOR THE ENTERTAINMENT GIANT
Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant, with people increasingly swapping out their cable TV subscriptions for streaming platforms.
NEW PENTAGON REPORT ON UFOS INCLUDES HUNDREDS OF NEW INCIDENTS BUT NO EVIDENCE OF ALIENS
The Pentagon’s latest report on UFOs has revealed hundreds of new reports of unidentified and unexplained aerial phenomena but no indications suggesting an extraterrestrial origin.
AMAZON AND ELON MUSK'S SPACEX CHALLENGE LABOR AGENCY'S CONSTITUTIONALITY IN FEDERAL COURT
Attorneys for Amazon and Elon Musk’s SpaceX argued in a federal appeals court Monday that the National Labor Relations Board’s structure is unconstitutional, advancing a legal fight that may last into the Trump administration where Musk is expected to oversee bureaucratic cost-cutting.
FORGET DRIVERLESS CARS.ONE COMPANY WANTS AUTONOMOUS HELICOPTERS TO SPRAY CROPS AND FIGHT FIRES
When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night.
DELTA CEO SAYS THE TRUMP ADMINISTRATION WILL REVERSE GOVERNMENT OVERREACH' SEEN UNDER BIDEN
The chief executive of Delta Air Lines says the incoming Trump administration will be a “breath of fresh air” for airlines after what he called government “overreach” under President Joe Biden.
