The report said growth in 2025 was supported by a surge in trade ahead of policy changes and rapid adjustments in global supply chains.
The report indicated that the slowdown would mark the weakest non-recessionary global growth since 2008.
Niyi Yusuf, chairman of the NESG, called for continued efforts to strengthen the economy.
The world’s 26 poorest economies—home to about 40 per cent of all people who live on less than $2.15 a day—are deeper in debt than at any time since 2006.
According to a new report from the World Bank, high interest rates and the Russian war in Ukraine continue to slow global economic growth significantly.
The World Bank has begun work to assess the business and investment climate in up to 180 economies under its flagship ‘Business Ready’ project.
It said these declines would be much steeper in the event of a global financial crisis or a recession.
