Improvement in World Economy, Estimated Global Development Rate of 3.1% in 2018: World Bank

Improvement in World Economy, Estimated Global Development Rate of 3.1% in 2018: World Bank

According to the latest report, the World Bank has estimated 3% in the global economy, 3.1% in 2018 and 3.0% in 2019.

WASHINGTON: For the first time in the last several years, the World Bank estimates have been better than the global economy for the first time. Given the improvement in different areas of the world, the World Bank has expressed hope of further improvement in the global economy. According to the latest report, the World Bank has estimated 3% in the global economy, 3.1% in 2018 and 3.0% in 2019.

However, the World Bank has warned that all countries should take steps to increase investment to improve their growth rate. The bank said that before any next economic crisis arises, the countries of the world should properly utilize their economic prospects.

Forecasts are better than June edition

World Bank economist Ahyana Kos said that all the predictions in the Global Economic Prospects Report are better than their June edition. He said, "Global growth is looking stronger than our expectations." Kocay said that the economic expansion in the world is showing very closely related to each other. It includes three major economies, America, Eurozone and Japan.

Improving Russia and Brazilian Economy

Apart from this, major economies exporting jeans such as Russia and Brazil have seen improvement last year. Earlier, the economies of these countries were struggling and in 2016 it was seen in the decline.

Since June, the World Bank has made changes in almost all of its predictions, and in 2017, global economic growth rate is estimated to be 3.0 percent. The bank has estimated the global growth rate of 3.18 per cent in 2018 and 3.0 per cent in 2019.

The most robustness in developed economies has been seen. The economies of developed countries are estimated to be 2.3 percent in 2017 and 2.2 percent in 2018. That is the estimated growth rate of 1.9% and 2020 1.7% in 2019. Similarly, the growth in the Europe region is estimated to increase 0.7 points, and 2.4 percent in 2017 and 0.6 percent to 2.1 percent in 2018.