Global economic growth is set to steady this year and next, but remain weak and below rates that would enable poor countries to narrow the income gap with rich ones as quickly as they did earlier in the century,

Global growth is expected to hold at an annual rate of 2.7 percent for the next two years, the same as in 2024, the bank’s economists said.

The International Monetary Fund expects the world economy to grow a little faster and inflation to keep falling this year.

The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America's trading partners retaliate with tariffs of their own.

Global growth is expected to increase slightly this year while remaining stuck below its pre-pandemic average, the IMF said Friday, flagging the growing economic divide between the United States and European countries.

The world economy is growing steadily in the face of global conflict, protectionist trade policies and high interest rates.

The World Bank predicts global economic growth of 2.7% this year amid concerns living standards will struggle to improve.

Global economic growth stabilized at a low level of 2.7% last year and is expected to hold steady in 2025 and 2026, according to World Bank estimates released on Thursday. However, the World Bank warned that this is not sufficient to make up for the damage caused by recent economic shocks such as the coronavirus pandemic.