World Bank cuts global growth forecasts

In the “Global Economic Outlook” report, global economic growth expectation increased from 2.6 percent to 2.4 percent for 2019, from 2.7 percent to 2.5 percent for 2020, and to 2.8 percent for 2021. was reduced from 2.6 percent.

The World Bank reported that global economic growth is expected to be 2.5 percent by the end of 2020 and 2.6 percent by the end of 2021.

In the “Global Economic Outlook” report, the global economic growth expectation is increased from 2.6 percent to 2.4 percent for 2019, from 2.7 percent to 2.5 percent for 2020, and to 2.8 percent for 2021. was reduced from 2.6 percent.

In the report, the global economy is predicted to grow at 2.7 percent in 2022.

The World Bank report stated that global investments and trade are expected to gradually improve in the coming period, but there are still some downward pressures on the global economic outlook.

According to the report, possibilities such as a global slowdown in growth, increased trade wars, increased uncertainties in trade policies, greater than expected economic deterioration in major economies, and economic tensions in emerging markets are among the notable risks in the future.

Positive growth forecast for Türkiye

In the World Bank’s report, the growth expectation for developing economies is from 4 percent to 3.5 percent for 2019, from 4.6 percent to 4.1 percent for 2020, and from 4.6 percent to 4.3 percent for 2021. was reduced to .

It was pointed out that the slowdown in growth in developing economies may provide an opportunity for policy makers to focus on structural reforms.

The contraction figure for Turkey, previously estimated at 1 percent for 2019, was also revised. Accordingly, there will be no contraction in the Turkish economy in 2019. In the report, the growth forecast for 2020 was kept constant at 3 percent and the growth forecast for 2021 was kept constant at 4 percent.

Growth forecasts for China increased from 6.2 percent to 6.1 percent for 2019, from 6.1 percent to 5.9 percent for 2020, and from 6 percent to 5.8 percent for 2021. withdrew to.
In the report, the growth forecast for Russia in 2019 was kept constant at 1.2 percent, but the expectation was reduced from 1.8 percent to 1.6 percent for 2020. The growth expectation for this country in 2021 was kept constant at 1.8 percent.
The growth forecast for Brazil was reduced from 1.5 percent to 1.1 percent for 2019 and from 2.5 percent to 2 percent for 2020. For 2021, it was increased from 2.3 percent to 2.5 percent.

Growth expectations have been lowered in developed economies

On the other hand, the growth expectation of developed economies was reduced from 1.7 percent to 1.6 percent for 2019 and from 1.5 percent to 1.4 percent for 2020, while this figure remains constant at 1.5 percent for 2021. was kept.

In the report, the growth expectation of the USA was reduced from 2.5 percent to 2.3 percent for 2019, but the growth forecast for 2020 was reduced from 1.7 percent to 1.8 percent and for 2021 from 1.6 percent. was increased to 1.7 percent.

The increase in customs duties that the USA decided to impose on imports last year and the increasing uncertainty environment were cited as reasons for the expectation that the growth of the USA would decrease in 2020.

In the World Bank report, the growth projections of the Eurozone were reduced from 1.2 percent to 1.1 percent for 2019, from 1.4 percent to 1.0 percent for 2020, and were left at 1.3 percent for 2021.

Source: https://www.aa.com.tr/tr/ekonomi/dunya-bankasi-kuresel-buyume-tahminlerini-dusurdu/1697162

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