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World Bank cuts forecast for 2019 global economic growth to 2.6%

Arirang News 2019-06-05

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세계은행, 올해 성장률 전망 2.9→2.6% 하향… "상당한 위험요인"

The World Bank has downgraded its global economic outlook for this year, citing a slowdown in global trade and weak investment.
Our Choi Si-young has this report.
In its biannual Global Economic Prospects report released on Tuesday, the World Bank forecast global growth to slow to two-point-six percent in 2019.
That's zero-point-three percentage points lower than its earlier projection of two-point-nine percent made in January.
Citing sluggish global growth and weak momentum, the Bank warned of downside risks, both in emerging markets and advanced economies, especially in Europe.
The president of the bank said debt management should be a priority, urging countries to initiate "structural reforms" for robust investment.
In the report, the bank left its forecast for U.S. economy unchanged at two-point-five percent this year, and one-point-seven percent in 2020.
The forecast for Europe and Central Asia stands at two-point-four percent.
China's economy is expected to grow by six-point-two percent, down from six-point-six percent in 2018,... with Japan's growth at point-eight percent this year.
The forecast for the East Asia and Pacific region stands at five-point-nine percent, down from six-point-three a year earlier,... and dropping below six percent for the first time since the 1997 Asian financial crisis.
Choi Si-young, Arirang News.

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