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  • Global economy is healthy but growth will slow: World Bank

    Published on June 6, 2018

    The steadily expanding global economy should remain resilient, at least for a couple of years, the World Bank has said.

    World Bank President Jim Yong Kim takes his seat as he arrives to brief the press at the opening of the IMF and World Bank’s 2015 Annual Spring Meetings, in Washington, April 16, 2015. REUTERS/Mike Theiler/Files GLOBAL BUSINESS WEEK AHEAD PACKAGE- SEARCH ‘BUSINESS WEEK AHEAD APRIL 11’ FOR ALL IMAGES – RTX29CYL

    The anti-poverty agency predicts global growth will decelerate slightly from a solid 3.1 per cent this year to 3 per cent next year and 2.9 per cent in 2020.

    The world economy is generally healthy but must contend with rising interest rates in wealthier countries and weaker demand for commodities in developing nations.

    It also faces risks from trade disputes, financial volatility and geopolitical tensions.

    The World Bank predicts that US growth will register 2.7 per cent in 2018, aided by tax cuts, before slowing to 2.5 per cent next year and 2 per cent in 2020.

    China’s growth is projected at 6.5 per cent this year, 6.3 per cent in 2019 and 6.2 percent in 2020.