World Bank projects global growth of 2.5% in 2020

falling the weakest growth last year
since the 2008-2009 global financial crisis the World Bank says the global
economy is poised for a modest rebound this year but that it will still be
fragile and vulnerable to uncertainties our Kim Hanul reports the World Bank
forecasts global economic growth to hits 2.5 percent this year and 2.6 percent in
2021 that’s slightly higher than a 2.4 percent growth recorded in 2019 but the
projection for 2020 has point 2 percentage points lower than the World
Bank’s previous forecasts made last June as the pace of recovery and trading and
investment remains weak the World Bank says advanced economies are likely to
record an average of one point four percent growth in 2020 down pointone
percentage points from his previous forecast reflecting a weakness in
manufacturing it expects the u.s. growth rate to fall from 2.3 percent in 2019 to
1.8 percent in 2020 citing increased trade costs from higher tariffs and
uncertainty over its economic relations with other countries that will weigh on
investment and business confidence the World Bank projects emerging markets and
developing economies to see 4.1 percent growth that’s down point 5 percentage
points from his June forecast but up from the 3.5 percent tallied last year
thanks to stronger growth from large emerging economies like India and Brazil
the asia-pacific region where South Korea is located as forecast to ease
25.7% mainly on China’s slowing growth which is expected to slip below 6%
growth this year for the first time since 1990 the World Bank cautioned that
a number of risk could up and this forecast including the possibility of
renewed of trade hostilities between Washington and Beijing an escalation of
geopolitical tensions or a series of extreme weather events Kim Azam Arirang

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