2025 has been a year of steep ups and downs for the global economy—at least where growth forecasts have been concerned. The consensus forecasts of economists have swung from optimism to pessimism and back again. Yet actual economic activity has remained remarkably resilient. Forecasters now expect global growth of about 2.7 percent—broadly in line with expectations at the start of the year (figure 1A).
Continue readingEnergy efficiency is a transformative, low-cost solution that can fast-track access to affordable and secure energy and boost economic growth. Amid soaring power demand, driven in part by air conditioners, heavy industry, and, increasingly, data centers needed to power artificial intelligence, energy efficiency can help countries avoid overspending on new energy infrastructure, importing fuels, and taking on more debt for their energy sectors.
As we cross the halfway point of 2025, mounting headwinds are slowing down global trade. A decade-long rise in trade restrictions has been supercharged by sharp tariff hikes and retaliatory measures from major economies over the past three months. Although some of these measures have since been rolled back and fresh negotiations are underway, businesses are still navigating choppy waters—including elevated policy uncertainty, stretched supply chains, and the ever-present threat of new barriers. In the face of this, we explore how these headwinds will likely reshape trade growth this year and next, identify the most critical risks ahead, and highlight the bright spots that could help steady the ship.
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The global agriculture and food system can do more than just feed a growing population—it holds immense potential as a driver of growth and job creation. However, to unlock this potential for the long term, the agrifood system needs to prioritize nutrition, climate resilience, and halting environmental degradation.
This flagship event at the World Bank Annual Meetings 2024 will explore how governments and businesses can lead this transformation.
Have questions? Don’t wait—submit them below. Our experts will be responding live on October 23rd!
Global Economic Prospects
Global growth is projected to slow significantly amid high inflation, tight monetary policy, and 
more restrictive credit conditions. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth and lead to financial dislocations in the most vulnerable emerging market and developing economies (EMDEs). Comprehensive policy action is needed to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed.
In his speech, “Growth and Stability During Crises,” World Bank Group President David Malpass discussed the challenges facing development policy, including the need for macroeconomic stability, the importance of private capital to international integration, and the increasing need to support global public goods. President Malpass emphasized the role of education in supporting growth and creating pathways out of fragility and extremism, which are both critical for Africa’s Sahel Region.
The live-streamed speech was hosted by the Abdou Moumouni University of Niamey, Niger.
In his speech, “Addressing Challenges to Growth, Security, and Stability,” President
Malpass will discuss how conflict, COVID-19, and climate change have created unprecedented challenges for developing countries, hurting the poorest and most vulnerable people and communities. He will outline how, moving forward, crisis recovery and longer-term development requires economic transformation, investment in human capital, and security and stability underpinned by support from the international community.
This speech will be broadcast live from Poland, a country that has taken in over 2.3 million Ukrainian refugees fleeing war.
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STORY HIGHLIGHTS
Small and medium enterprises (SMEs) employ about half of the workforce in developing countries. SME growth may thus raise incomes for many low-income households. But SMEs often face significant constraints to growth relative to large firms ranging from excessive red tape to limited access to finance.
In this talk, Miriam Bruhn will discuss empirical evidence on commonly used policies for SME growth. Miriam will cover policies that work and policies that don’t in the areas of regulation, access to finance, and business practices. Encouragingly, evidence from Mexico, Georgia, Peru, and elsewhere shows that there are a number of programs that governments can implement to support SME growth. She will also highlight implementation challenges and caveats for some of these policies.
How to join! 12:30 – 2:00 PM, November 8, 2016
Netherlands for the World Bank 