Most of the improvement stems from the World Bank upgrading the US growth outlook to 2.5% from a previous estimate of 1.6%. But countries in Sub-Saharan Africa, the Middle East and North Africa saw their estimates cut.
The World Bank raised its forecast for global growth this year on strong US expansion, while warning that climate change, wars and high debt will hurt the poorer countries where most of the world’s population lives.
The bank boosted its projection to 2.6% from a 2.4% forecast in January, according to the Global Economic Prospects report released on Tuesday. The Washington-based anti-poverty lender kept its 2025 forecast unchanged at 2.7%.
