Xinhua News Agency, Washington, January 8th (Reporter Yang Chenglin Gao Pan) The World Bank released the latest issue of the "Global Economic Outlook" report on the 8th, predicting that the global economic growth rate in 2020 will pick up slightly from 2019, but the economic recovery is more fragile and trade Factors such as debt, geopolitics and other factors still pose risks to global economic growth.
The report predicts that the global economic growth in 2019 and 2020 will be 2.4% and 2.5%, respectively, 0.2 percentage points lower than the World Bank's June 2019 forecast. The World Bank said that if recent policy actions to ease trade tensions continue to reduce uncertainty, the expected economic recovery could become strong.
The report said that the overall growth rate of advanced economies is expected to slow from 1.6% in 2019 to 1.4% in 2020, and the continued weakness in manufacturing is one of the reasons. Among them, the economic growth rate of the United States is expected to decrease from 2.3% in 2019 to 1.8% in 2020, and the economic growth rate of the euro area is expected to decrease from 1.1% in 2019 to 1% in 2020.
The report predicts that the economic growth rate of emerging markets and developing economies will be 3.5% in 2019 and will rise to 4.1% in 2020.
The report believes that this round of economic recovery is relatively fragile and vulnerable to interference by adverse factors. For example, factors such as the re-escalation of trade tensions, the slower-than-expected growth of major economies, the recurrence of financial pressures in emerging market economies, geopolitical tensions and extreme weather may all adversely affect economic activity.
The report quoted World Bank Vice President Jayla Pazalbasheoglu as saying that countries should take decisive reform measures to improve the business environment and tax policies, promote trade integration, and restore productivity growth.
(Responsible editor: Ma Changyan)