mo4ch:>‘Storm clouds brewing’: World Bank sees global growth slowing in 2019 | Mo4ch News

The growth of the global economy is expected to decelerate to 2.9 percent this year compared with three percent in 2018, the World Bank said in a report, citing elevated trade tensions and international trade moderation.A slump in the global economy will continue in the coming year, with 2020 growth estimated at 2.8 percent, according to the report.“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,” World Bank Chief Executive Officer Kristalina Georgieva said.“As economic and financial headwinds intensify for emerging and developing countries, the world’s progress in reducing extreme poverty could be jeopardized. To keep the momentum, countries need to invest in people, foster inclusive growth, and build resilient societies,” she explained.Growth in emerging market and developing economies has lost momentum and is projected to stall at 4.2 percent this year, the bank said, a…