The World Bank lowered its forecast for global economic growth for 2019

The World Bank’s outlook for the growth of the global economy in the current year is downward due to weaker growth in trade and reduced investment flows in the world. Bank experts now expect the global economy to grow by 2.6%, rather than by 2.9%, as was predicted earlier. They note that this year the growth will be minimal since 2016. Their anxiety is caused by the escalation of trade conflict between large countries, as well as the fall of business confidence. According to bank estimates, in 2020 we should expect an acceleration of economic growth to 2.7%. The trade growth forecast in 2019 was reduced from 3.6% to 2.6%, which is the lowest level since the global financial crisis. The new World Bank forecast indicates that the European economy is developing slower than expected, and financial turbulence is observed in emerging markets.

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