Overall, the global economy continues to run in low gear. At 3% over the past 7 years, the pace of global growth is more than 1 percentage point below the 2000-07 period, and about ¾ of a percentage point below the average of the 15 years prior to the financial crisis.
Curbing inflation and improving fiscal effectiveness are key challenges. Structural bottlenecks constrain manufacturing, slowing job creation. Increasing female economic participation and health expenditures would make growth more inclusive.