World Bank warns of ‘lost decade’ in global growth without bold policy shifts

  • New financial crisis could lead to “sharper” slowdown
  • Boosting investment, cutting trade costs could reverse trend
  • Raising labor force participation would boost growth rate

WASHINGTON, March 27 (Reuters) – Average potential global economic growth will slump to a three-decade low of 2.2% per year through 2030, ushering in a “lost decade” for the world’s economy, unless policymakers adopt ambitious initiatives to boost labor supply, productivity and investment, the World Bank warned on Monday.