World Bank warns on global growth

World Bank warns on global growth

• 2023-06-23 17:24:51

The world economy is likely to expand by 2.5% in 2020, up from 2.4% last year, the Bank's economists predict that reflects an expected recovery in some emerging and developing countries that had a difficult 2019.

But it will be offset by slower growth in the United States and some other developing nations.

Growth in 2019 was the slowest since the financial crisis. And the moderate forecast for this year is beset with uncertainty

It depends on a substantial improvement in some large emerging and developing economies. India is predicted to rebound after a marked slowdown in growth last year.

Brazil should grow somewhat more strongly after a period of weakness. Mexico and Turkey should see growth after recording none for 2019 as a whole. Argentina's economy will continue to contract but more slowly than in the last two years.