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The Global Economy in 2024: Turning a Corner?

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The world economy is facing a turbulent period: Global growth is projected to remain subdued in 2024, given tight monetary policy and more restrictive credit, and downside risks abound—from escalating conflict in the Middle East to financial stress, a weakening Chinese economy, and climate-related disasters. There are bright spots however: Inflation is expected to continue declining, and most forecasters see stronger global growth in 2025 if monetary policy loosens in advanced economies.

To navigate this unsettled, difficult period, how can policymakers need to make their economies more resilient to shocks while implementing comprehensive structural reforms to boost long-term growth prospects? And can the global economy finally move past these overlapping crises to turn a corner? Join us for a discussion of these issues based on the World Bank’s January 2024 “Global Economic Prospects” report.

The event was hosted by the Center for Global Development (CGD).

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