x

Developing economies expected to rise by 4.1% in 2020 –World Bank

The World Bank says due to growth in emerging market, developing economies are expected to accelerate to 4.1 per cent in 2020.

The bank made this known in a statement in Abuja on Wednesday.

It explained that this rebound was not broad-based, instead, it assumed improved performance of a small group of large economies, some of which were emerging from a period of substantial weakness.

It noted that about a third of emerging market and developing economies were projected to decelerate this year due to weaker-than-expected exports and investment.

The World Bank, however, said that the growth among advanced economies as a group was anticipated to slip to 1. 4 per cent in 2020 in part due to continued softness in manufacturing.

“Global economic growth is forecast to edge up to 2. 5 per cent in 2020 as investment and trade gradually recover from 2019 significant weakness but downward risks persist.

“With growth in emerging and developing economies likely to remain slow, policy makers should seize the opportunity to undertake structural reforms that boost broad-based growth, which is essential to poverty reduction.

“Steps to improve the business climate, the rule of law, debt management, and productivity can help achieve sustained growth.” it said. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

PDP Crisis: Wike Breaks Silence On Withdrawal From PDP Peace Talk…Vows To Fight For Justice

By Joyce Remi-BabayejuThe FCT Minister Barr. Nysome Wike has...

Bayelsa PDP Chair Hails Justice Wike on Birthday

Amgbare Ekaunkumo, Yenagoa The Chairman of the Peoples Democratic Party...

Bayelsa Table Tennis Boss Lauds Gateway Games 2024

Amgbare Ekaunkumo, Yenagoa The Chairman of Bayelsa State Table Tennis...

North-Central APC Forum Issues Ultimatum to Plateau APC Over Green Cap Movement

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

Christian Convert Cries for Justice: “My Three Children Killed, Wife Taken

Rev. Dikwa Urges Tinubu to Intervene in Detention of...

Climatologist Urges Tree Planting in Northern Nigeria to Combat Desertification, Windstorms

By Idibia Gabriel, KadunaA climatologist and Director of African...

Reps Aspirant Empowers Disabled, Backs Gov Sani

By Achadu Gabriel, KadunaThere was widespread jubilation on Saturday...

Kogi Not Under Siege, Gov Ododo Vows to Curb Security Threats

By Noah Ocheni, LokojaKogi State Governor, Alhaji Usman Ododo,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img