The report warns that while current conditions are less severe than the 2022 Ukraine war shock, major economies are experiencing their lowest growth levels since 2008, excluding recession periods. Global GDP is forecast to grow at just 2.6% in both 2025 and 2026, with inflation remaining elevated at 3.9% and 3.6%, respectively.
Allianz Trade: 'Stagflation light' grips global economy
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