WASHINGTON: The world’s 20 largest economies will grow by just 2.9% in 2030 amid headwinds from protectionism and policy uncertainty, their weakest medium-term outlook since the global financial crisis of 2009, the International Monetary Fund says.
In a report to the Group of 20 (G20), the global lender mapped out a series of challenges facing the global economy, including widening excessive balances and stretched public coffers, as well as aging populations in advanced economies.
The G20’s advanced economies – the United States, Britain, Australia, Canada, France, Germany, Italy, Japan and South Korea – were forecast to see economic growth of just 1.4% in 2030, it said.
G20 emerging market economies – Argentina, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa and Turkiye – should see stronger growth of 3.9%, it said.
In 2025, the group’s economic output was expected to expand by 3.2%, down from 3.3% last year, and moderating to 3% in 2026.
G20 leaders are due to meet in South Africa this weekend, minus US President Donald Trump, Chinese President Xi Jinping, and the leaders of Argentina and Mexico. — Reuters
