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World Bank Revises Downward Global Economic Growth To 2.9% - Business - Nairaland

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World Bank Revises Downward Global Economic Growth To 2.9% by sophsia62: 6:24am On Jan 09
The World Bank has projected global economic growth to fall from 3 percent recorded in 2018 to 2.9 percent in 2019 amid rising downside risks to the outlook.

The bank, which gave the downward revision on Tuesday, explained that “International trade and manufacturing activity have softened, while trade tensions remain elevated, even as some large emerging markets have experienced substantial financial market pressures.”

The bank in its January 2019 Global Economic Prospects, said “Growth among advanced economies is forecast to drop to 2 percent this year.

“Slowing external demand, rising borrowing costs, and persistent policy uncertainties are expected to weigh on outlook for emerging markets and developing economies.

“Growth for this group is anticipated to hold steady at a weaker-than-expected 4.2 percent this year”.

The World Bank Chief Executive Officer, Kristalina Georgieva, said “At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead.

“As economic and financial headwinds intensify for emerging and developing countries, the world’s progress in reducing extreme poverty could be jeopardised. To keep the momentum, countries need to invest in people, foster inclusive growth, and build resilient societies.”

The bank noted that the upswing in commodity exporters has stagnated, while activity in commodity importers is decelerating, stressing that per capita growth will be insufficient to narrow the income gap with advanced economies in about 35 percent of emerging market and developing economies in 2019, with the share increasing to 60 percent in countries affected by fragility, conflict, and violence.

It disclosed that a number of developments could act as a further brake on activity, noting that a sharper tightening in borrowing costs could depress capital inflows and lead to slower growth in many emerging market and developing economies.

Past increases in public and private debt, the World Bank observed, could heighten vulnerability to swings in financing conditions and market sentiment.

The bank warned that intensifying trade tensions could result in weaker global growth and disrupt globally interconnected value chains.

https://www.akelicious.net/2019/01/world-bank-revises-downward-global.html

Re: World Bank Revises Downward Global Economic Growth To 2.9% by helinues: 6:40am On Jan 09
Hope this is not another global recession loading

Buhari had also warned Nigeria governors to be prepared for tough year 2019.

Oh boy, no unnecessary spendings for now.

3 Likes

Re: World Bank Revises Downward Global Economic Growth To 2.9% by Caseless: 6:40am On Jan 09
Global economy never see anything. Shey na "Tlump be plesiden of amelika"? Him go cause more economic wars and confusion tire.

7 Likes

Re: World Bank Revises Downward Global Economic Growth To 2.9% by CheapDataGuy: 6:40am On Jan 09
Hope that's not recession version 2.2 loading
Re: World Bank Revises Downward Global Economic Growth To 2.9% by edeboy(m): 6:40am On Jan 09
Let them strategies before it gets outta hand
Re: World Bank Revises Downward Global Economic Growth To 2.9% by MANNABBQGRILLS: 6:41am On Jan 09
International trade and manufacturing activity have softened, while trade tensions remain elevated, even as some large emerging markets have experienced substantial financial market pressures.
Fluctuation taking place.

2 Likes 2 Shares

Re: World Bank Revises Downward Global Economic Growth To 2.9% by kumakunta: 6:41am On Jan 09
Naija don get excuse for it annual failure

2 Likes

Re: World Bank Revises Downward Global Economic Growth To 2.9% by matuskyoo7(m): 6:44am On Jan 09
cry
Re: World Bank Revises Downward Global Economic Growth To 2.9% by NotBeenPaid(m): 6:46am On Jan 09
kumakunta:
Naija don get excuse for it annual failure




You're not far from the truth. Lol



Re: World Bank Revises Downward Global Economic Growth To 2.9% by netsurfer01(m): 6:53am On Jan 09
I'm sure Buhari will be happy with this angry
Re: World Bank Revises Downward Global Economic Growth To 2.9% by Compliant(m): 6:56am On Jan 09
"EVEN THE WORLD IS FEELING IT"

Lie Mohammed

1 Like

Re: World Bank Revises Downward Global Economic Growth To 2.9% by YovvInteriors(m): 7:13am On Jan 09
sad shocked


Check my signature !
Re: World Bank Revises Downward Global Economic Growth To 2.9% by AmeLonRo(m): 7:29am On Jan 09
That's great news for all. Especially nations with integrity.

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Re: World Bank Revises Downward Global Economic Growth To 2.9% by aolawale025: 7:32am On Jan 09
The growth might be slow but it's not negative
Re: World Bank Revises Downward Global Economic Growth To 2.9% by helinues: 7:45am On Jan 09
Caseless:
Global economy never see anything. Shey na "Tlump be plesiden of amelika"? Him go cause more economic wars and confusion tire.

Trump was also the president from 2006-2009 bah?
Re: World Bank Revises Downward Global Economic Growth To 2.9% by Caseless: 9:23am On Jan 09
helinues:


Trump was also the president from 2006-2009 bah?
Another oaf was in the office then who created the ground for the global issues of 2008.

1 Like

Re: World Bank Revises Downward Global Economic Growth To 2.9% by FuukaFuuka: 10:55am On Jan 09
grin

Re: World Bank Revises Downward Global Economic Growth To 2.9% by FuukaFuuka: 10:56am On Jan 09
netsurfer01:
I'm sure Buhari will be happy with this angry

Re: World Bank Revises Downward Global Economic Growth To 2.9% by Ugosample(m): 8:52pm On Jan 09
Caseless:
Global economy never see anything. Shey na "Tlump be plesiden of amelika"? Him go cause more economic wars and confusion tire.

no mind them

recession go bad gan, with all these his stupid experiments
Re: World Bank Revises Downward Global Economic Growth To 2.9% by Ugosample(m): 8:54pm On Jan 09
helinues:


Trump was also the president from 2006-2009 bah?

it's not abt that

Trump is trying out some dangerous experiments that failed in Reagan's time, and failed again in Bush jnr time.

Supply side economics does NOT WORK.

1 Like

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