Falling Long-Term Growth Prospects: Trends, Expectations, and Policies
On 27th March, 2023, the World Bank released a report titled – ‘Falling Long-Term Growth Prospects: Trends, Expectations, and Policies’.
- The Report offers the first comprehensive assessment of long-term potential output growth rates in the aftermath of the COVID-19 pandemic and the Russian invasion of Ukraine.
Major Highlights
- The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030.
- Between 2022 and 2030 average global potential GDP growth is expected to decline by roughly a third from the rate that prevailed in the first decade of this ....
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