The World Bank lowered its forecast for world economic growth in 2019 to 2.5% from 2.6% amid a slowdown in global trade and investment, the development institute said in a statement, RIA Novosti reported.
Economists note that in 2019, the weakening of global economic growth continued against the backdrop of uncertain economic policies and a decline in global investment and trade flows.
Growth is expected to slow to 2.5% this year amid weaker-than-expected trade and investment indicators, the report said.
In June 2019, the World Bank predicted that global economic growth would slow to 2.6% this year - to a minimum since 2016.
However, the emergence of a number of risks - including the resumption of tension in trade between the largest economies - overshadowed the forecast compared to June, the WB explained. In 2020, growth will also be 2.5% (which is 0.2 percentage points lower than the June forecast).
Growth, according to WB economists, will stabilize by 2021, reaching 2.6% (2.8% was previously expected), provided there are no major shocks in the economy, as well as the recovery of developing and developed economies that were previously subjected to pressure from financial markets.
In 2019, growth in emerging and emerging economies in Europe and Central Asia is expected to slow to 1.8% (compared with 3.2% in 2018), reaching the lowest level in four years. It is expected that in 2020-2021, growth will accelerate as the Turkish economy recovers and the situation in Russia improves, economists add.