The World Bank forecasts economic growth this and next year
The global economy is going to grow both this year and next year, thanks to more stable commodity prices and increased global trade, according to the World Bank.
According to World Bank forecasts, global economy growth will be 2.7 percent this year and 2.9 percent in 2018. It is an improvement compared to the growth in 2016, which was 2.4 percent.
Half per cent additional growth
According to the Bank’s forecasts, growth in the US economy is 2.1 percent this year, up from 1.6 percent last year. In Japan, growth this year will be 1.5 per cent, up 0.5 percentage points from last year.
However, the euro zone forecasts a slight decline in growth, from 1.8 per cent last year to 1.7 this year. According to the World Bank forecasts, the Chinese economy will also have weaker growth this year than last year. The bank forecasts growth of 6.5 per cent this year, compared with 6.7 per cent last year.