Global economy will slow again in 2024, World Bank predicts The World Bank says high interest rates, persistent inflation and sluggish trade will see the global economy slow for a third consecutive year in 2024. It has forecast growth of just 2.4% in 2024, marking a slowdown on the 2.6% growth recorded in 2023, the 3% seen in 2022 and the 6.2% rate posted in 2021. Indermit Gill, the World Bank's chief economist, said: “Near-term growth will remain weak, leaving many developing countries - especially the poorest - stuck in a trap." The World Bank predicts that global inflation will hit 3.7% in 2024, with this a decline on the 5.3% recorded last year. It expects the rate to fall again in 2025, to 3.4%.