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Global economy to grow 3.1% in 2018: World Bank

 
The World Bank raised its 2018 growth forecast to three-point-one percent.
However there's still high uncertainty surrounding these prospects.
Cha Sang-mi helps us look beyond the digits.
 
  The World Bank on Tuesday projected the global economy to grow by 3-point-1 percent in 2018, with growth slowing down slightly in 2019 and 2020.
The figure is zero-point-two percent higher than the World Bank's forecast from last June.
 
The institution attributed the rise to a recovery in investment and manufacturing, and a continuation of trade.
In its Global Economic Prospects report, the World Bank forecasts this year to be the first that the world economy is operating at full capacity since the financial crisis a decade ago.
 
  The report wrote that the major economies -- the United States, Eurozone, and Japan -- are expected to see moderate growth of around 2-point-2 percent this year, as central banks gradually remove their post-crisis stimulus measures.
 
  Growth in the emerging and developing economies will rise to 4-point-5 percent in 2018 with strong commodity exports.
The institution said uncertainty around global growth prospects still remains high, despite the possibility of stronger-than-expected growth in large economies.
 
world to grow 3
 
  The institution advised advanced economies to continue to reinforce financial regulations and supervision... and emerging and developing economies to strengthen policy frameworks to ensure financial stability.
 
As for Korea, experts say its economic outlook isn't as bright as that of other nations.
(KOREAN)   -  
 
    "Experts predict Korea's economy to grow by 2-point-8 percent this year, a bit lower than the projected global economic growth average, and down from last year's growth rate. The reasons are domestic such as an increase in corporate income tax, excessive pay rises, and commercial law amendments."
 
  The World Bank publishes economic prospects reports every January and June.
 

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