Summary

According to estimates by the World Bank, global economic growth is projected at 2.6% in 2026 and 2.7% in 2027. Despite the pickup in global trade and the reconfiguration of global supply chains during 2025, experts expect a slowdown in economic momentum due to a further deterioration of external macroeconomic conditions and weakening domestic demand. In addition, the gap in living standards between advanced and developing economies continues to widen. By the end of 2025, per capita income in most advanced economies had exceeded pre-pandemic levels, while in one quarter of developing countries it remains below the 2019 level. The World Bank underscores the need to liberalize global trade, create conditions for attracting private investment, and strengthen fiscal sustainability, including through the use of fiscal rules. The analysis shows that the application of fiscal rules is associated with an improvement in the fiscal balance by an average of 1.4% of GDP over the medium term. At the same time, the effectiveness of fiscal rules depends on their design, the quality of enforcement, and their interaction with other institutional reforms.