World Bank slashes global growth forecast

13-Jun-2025

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The World Bank on Jun 10 slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a "significant headwind" for nearly all economies.

In its twice-yearly Global Economic Prospects report, the bank lowered its forecasts for nearly 70 per cent of all economies - including the United States, China and Europe, as well as six emerging market regions - from the levels it projected just six months ago before US President Donald Trump took office.