With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We the future six drivers of global change pdf a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.
Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Global Economy to Edge Up to 3. WASHINGTON, January 9, 2018— The World Bank forecasts global economic growth to edge up to 3. 1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices. However, this is largely seen as a short-term upswing.
Over the longer term, slowing potential growth—a measure of how fast an economy can expand when labor and capital are fully employed—puts at risk gains in improving living standards and reducing poverty around the world, the World Bank warns in its January 2018 Global Economic Prospects. Growth in advanced economies is expected to moderate slightly to 2. 2 percent in 2018, as central banks gradually remove their post-crisis accommodation and as an upturn in investment levels off. Growth in emerging market and developing economies as a whole is projected to strengthen to 4.
5 percent in 2018, as activity in commodity exporters continues to recover. World Bank Group President Jim Yong Kim said. This is a great opportunity to invest in human and physical capital. If policy makers around the world focus on these key investments, they can increase their countries’ productivity, boost workforce participation, and move closer to the goals of ending extreme poverty and boosting shared prosperity. Download the January 2018 Global Economic Prospects report. 2018 is on track to be the first year since the financial crisis that the global economy will be operating at or near full capacity.
With slack in the economy expected to dissipate, policymakers will need to look beyond monetary and fiscal policy tools to stimulate short-term growth and consider initiatives more likely to boost long-term potential. The slowdown in potential growth is the result of years of softening productivity growth, weak investment, and the aging of the global labor force. The deceleration is widespread, affecting economies that account for more than 65 percent of global GDP. World Bank Senior Director for Development Economics, Shantayanan Devarajan. Reforms that promote quality education and health, as well as improve infrastructure services could substantially bolster potential growth, especially among emerging market and developing economies. Risks to the outlook remain tilted to the downside. An abrupt tightening of global financing conditions could derail the expansion.