Ankara: The growth of the global economy is expected to slow down from 2.8% in 2024 to 2.3% in 2025 due to trade tensions and amid uncertainty, with developing countries being the most vulnerable, the UN Trade and Development (UNCTAD) said on Wednesday.
According to Namibia Press Agency, the UNCTAD’s recent Trade and Development Foresights report highlighted several factors contributing to the anticipated slowdown. The report emphasized that subdued demand, trade policy shocks, financial turbulence, and systemic uncertainty are intensifying pressures, especially for developing countries. The anticipated shift towards a recessionary path marks a significant change in the global economic landscape.
Developing countries are expected to bear the brunt of these challenges, as they are more susceptible to the adverse effects of trade tensions and economic instability. The report underscores the need for these countries to brace for potential economic disruptions and seek strategies to mitigate the impact on their economies.