World Bank Projects Global Growth at 2.7% for 2024-25: Pakistan Shows Modest Improvement

New York – The World Bank has projected global economic growth at 2.7% for the year 2024-25, attributing the slow growth to ongoing conflicts, climate change, and natural disasters that are severely impacting the global economy.
In its latest report, the World Bank highlighted that Pakistan’s growth rate for the current fiscal year stood at 2.7%, a slight improvement over last year’s growth of 2%. This performance places Pakistan at par with the global average, though it lags behind other regional economies, particularly India and China, which are making faster progress.
India outpaced global economic growth in 2024, achieving a growth rate of 7%, while China’s economy grew at 5%. The United States recorded a growth rate of 2.6%. Meanwhile, developed economies such as the United Kingdom and Japan showed sluggish growth, with rates of just 0.7%. Germany’s economy grew by 0.8%, and France saw a growth rate of 1.1%, reflecting a slowdown in European economies.
The World Bank’s report also pointed out that various factors, including political stability, economic policies, climate effects, and international conditions, have a direct impact on a country’s growth rate.