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MNI: Globe's Non-Inflationary "Speed Limit" Falling-World Bank

(MNI) OTTAWA
WASHINGTON (MNI)

Governments should boost investment, labor force participation and trade, the World Bank argues.

The global economy's "speed limit" of non-inflationary growth could drop to the lowest in three decades without a renewed commitment to boosting investment, labor force participation and free trade, the World Bank said in a report Monday.

"Nearly all the economic forces that powered progress and prosperity over the last three decades are fading," President David Malpass said in an introduction to the report. Long-term potential growth is expected to decline to 2.2% by 2030, from 2.6% over the decade ending in 2021 and 3.5% in the first decade of this century, according to a staff analysis.

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The global economy's "speed limit" of non-inflationary growth could drop to the lowest in three decades without a renewed commitment to boosting investment, labor force participation and free trade, the World Bank said in a report Monday.

"Nearly all the economic forces that powered progress and prosperity over the last three decades are fading," President David Malpass said in an introduction to the report. Long-term potential growth is expected to decline to 2.2% by 2030, from 2.6% over the decade ending in 2021 and 3.5% in the first decade of this century, according to a staff analysis.

Keep reading...Show less