WASHINGTON, Jan. 8 (Xinhua) -- Global economic growth is projected to recover to 2.5 percent in 2020, up slightly from the post-crisis low of 2.4 percent registered in 2019, but downside risks persist, the World Bank said on Wednesday.
In its newly-released semi-annual Global Economic Prospects report, the World Bank said this projected recovery could be stronger if recent policy actions, particularly those that have mitigated trade tensions, lead to a sustained reduction in policy uncertainty.
"Nevertheless, downside risks predominate, including the possibility of a re-escalation of global trade tensions, sharp downturns in major economies, and financial disruptions in emerging market and developing economies," the report said.
Growth in emerging market and developing economies is expected to accelerate to 4.1 percent in 2020 from 3.5 percent in 2019, while growth in advanced economies is estimated to slow to 1.4 percent in 2020 from 1.6 percent in 2019, in part due to continued softness in manufacturing, according to the report. Enditem
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