The World Bank has lowered its growth projections for developing economies, citing weaker-than-anticipated performance in the BRICS nations (Brazil, Russia, India, China, and South Africa).

According to the bank’s latest report, the revised forecasts reflect concerns about persistent economic headwinds affecting these key emerging markets. The slower growth in these countries is expected to have a ripple effect on the broader global economy.

Key factors contributing to the downward revision include:

• Reduced investment in infrastructure projects
• Decreased export demand from developed nations
• Domestic policy uncertainties

The World Bank emphasized the need for developing countries to implement structural reforms to boost productivity and enhance competitiveness. These reforms are crucial for fostering sustainable and inclusive growth in the long term.

The report also highlighted the importance of prudent macroeconomic management and sound financial regulation to mitigate risks and ensure stability in the face of global economic volatility.