Global EditionASIA 中文双语Fran?ais
Business
Home / Business / Macro

Global growth to slow to 2.9% in 2019: World Bank

Xinhua | Updated: 2019-01-09 05:13
A logo of World Bank Group. [Photo/VCG]

WASHINGTON - Global economic growth is projected to slow to 2.9 percent in 2019 from a downwardly revised 3 percent in 2018 amid rising downside risks, the World Bank said on Tuesday.

In its newly-released Global Economic Prospects report, the World Bank said the outlook for the global economy "has darkened" as global financing conditions have tightened, trade tensions "have intensified," and some large emerging market and developing economies have experienced significant financial market stress.

"Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum," the report said, expecting emerging market and developing economies to grow at 4.2 percent in 2019, 0.5 percentage points lower than previously projected in June.

Growth in advanced economies is estimated to slow to 2 percent in 2019 from 2.2 percent in 2018, as major central banks continue to withdraw monetary policy accommodation, according to the report.

"Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes," the report said, warning that intensifying trade tensions could result in weaker global growth and disrupt globally interconnected value chains.

The report estimated that China's economic growth will slow to 6.2 percent in 2019 from 6.5 percent in 2018 as domestic and external rebalancing continue.

Tourists take photos at Victoria Peak in Hong Kong. [Photo provided to China Daily]

"Authorities in China have shifted to looser monetary and fiscal policies in response to a more challenging external environment...these policy steps are expected to largely offset the direct negative impact of higher tariffs on China's exports," the report said.

"At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead," World Bank Chief Executive Officer Kristalina Georgieva said in a statement.

"As economic and financial headwinds intensify for emerging and developing countries, the world' s progress in reducing extreme poverty could be jeopardized," she said.

The report suggested that the "most urgent priority" for policymakers in emerging market and developing economies is to "prepare for possible bouts of financial market stress and rebuild macroeconomic policy buffers as appropriate."

"Equally critically, policymakers need to foster stronger potential growth by boosting human capital, removing barriers to investments, and promoting trade integration within a rules-based multilateral system," the report said.

Top
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
电子游艺试玩 金沙娱乐手机版登入 菲律宾太阳娱乐场 天鸿德州扑克 请问88娱乐城有什么热门的娱乐项目?谢谢。
857msc.com sb34.com sun867.com vns37.com bmw825.com
msc117.com xpj93.com bmw952.com 11xpj.com msc563.com
新葡京在线娱乐城登入 123sun.com 菲律宾太阳城申博娱乐 269sb.com 59kcd.com