WB likely to cut global growth forecasts again: Malpass

Published: October 17, 2019 12:56:42 | Updated: October 18, 2019 15:37:01

World Bank President David Malpass said the development lender will likely again downgrade its global growth outlook amid uncertainty over falling trade and investment flows.

“As we look at the data today, we will probably be looking at a further downgrade from our June downgrade,” he said.

Malpass said this at the start of World Bank and International Monetary Fund annual meetings, reports Reuters.

The World Bank in June cut its global growth forecast for 2019 by 0.3 percentage point to 2.6 per cent, about the same level as 2016.

The IMF on Tuesday released a new forecast that showed global growth slipping to its lowest level since the 2008-2009 financial crisis, due largely to trade conflicts.

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