World Bank Upgrades Global Growth Forecast as US Economy Defies Expectations

The global economy is projected to grow by 2.6% in 2024, buoyed by strong US performance, despite ongoing challenges from high interest rates and trade restrictions.

India remains the fastest-growing major economy with a projected 6.7% growth rate over the next three years.
Global inflation is expected to moderate but remain above pre-pandemic levels, prompting cautious central bank policies.
Trade restrictions and geopolitical tensions, including conflicts in Ukraine and Gaza, pose significant risks to global economic stability.
Emerging market and developing economies are forecast to grow at 4%, with China and India leading but facing internal challenges.
The poorest economies face severe debt burdens and limited growth prospects, requiring international support.