An economic decade will be lost!

According to Iran Economist, citing Economic, according to a report published by the World Bank, it is expected that the maximum long-term rate of the global economy, which can grow without stimulating inflation, will reach the lowest level in the last 30 years by the end of this decade.

Now, following the Corona crisis and Russia’s attack on Ukraine, the average potential growth of global GDP will decrease by a third from the rate recorded in the 2000s to 2.2% annually in the coming years.

“It could be shaping up to be a lost decade for the global economy,” noted World Bank Chief Economist Indermit Gill.

However, the report emphasized that this growth could be improved by adjustments in the five key areas of aligning monetary and fiscal frameworks, increasing green investment, reducing trade costs, expanding the services sector and increasing labor force participation.