The World Bank announced an improved outlook for global economic expansion, driven by robust growth in developing nations and unexpected strength in some developed economies. The upgraded forecast suggests a more optimistic view of the world economy’s ability to withstand various challenges.

While the overall outlook is positive, the World Bank cautioned that downside risks remain. These include rising interest rates, volatile commodity prices, and potential geopolitical instability. The Bank emphasized the importance of sound macroeconomic policies and structural reforms to sustain growth and mitigate these risks.