Wednesday, June 19, 2024
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The World Bank has warned of a “lost decade” for global growth because of structural challenges triggered by the Covid-19 pandemic, high inflation, and the war in Ukraine, and pitched for concerted policies to restore growth in the next decade.

The three main factors holding back economic growth are an aging workforce, slowing investment, and slowing productivity. Potential growth decreased from 3.5 percent in the decade 2000 to 2010 to an average of 2.6 percent per year from 2011 to 2021 and, from 2022 to 2030, it is expected to decrease to 2.2 percent.

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