GLOBAL growth will likely remain low this year and the next at a rate insufficient for sustained economic development, the World Bank said on Thursday as it raised concerns over the impact on developing countries such as the Philippines.

In the January edition of its Global Economic Prospects report, the World Bank said that global growth would likely stay steady at 2.7 percent in 2025 and 2026, unchanged since 2023 should the 2024 estimate hold true. Developing economies are also expected to collectively have grown by 4.1 percent in 2024, to be sustained this year and slowing to 4.0 percent in 2026.