According to the World Bank, the global economy is set to reach its “speed limit” and slump to a three-decade low by 2030. Systemic banking crises and recessions are expected to have lasting effects on the world’s economic growth and development. “Between 2022 and 2030, the average global potential gross domestic product growth is predicted to decline to 2.2 percent a year,” the Washington-based lender said in its latest report on Monday.
