UNITED NATIONS, June 6 (APP): The World Bank has lowered its expectations of global economic growth for this year in a new report, saying that, although the picture for poorer countries is expected to stabilize in 2020, economic momentum remains weak.
The risks to emerging and developing economies include rising trade barriers, slow investment, and economic slowdowns in richer countries.
“Stronger economic growth is essential to reducing poverty and improving living standards,” said World Bank Group President, David Malpass, in a statement released in Washington.
