The World Bank has revised its global economic growth forecast downward, citing a slower-than-anticipated recovery in developed economies and continued challenges in developing nations.

Revised Growth Projections

The institution’s latest projections indicate a 2.4% expansion for 2013, a decrease from its earlier estimate. This adjustment reflects concerns regarding persistent fiscal issues and uncertainties within the global economic landscape.

Key Factors Influencing the Revision:

• Developed Economies: Slower recovery than initially projected.
• Developing Economies: Ongoing headwinds and structural challenges.
• Fiscal Issues: Persistent fiscal challenges impacting growth prospects.
• Global Uncertainty: Elevated levels of uncertainty affecting investment and trade.

The World Bank emphasized the need for policymakers to address these challenges proactively to foster sustainable and inclusive growth.