Global economic growth will reach just 2.6% this year and 2.7% in 2020 as political uncertainty, including from the US-Brexit trade war and China, dents commerce and investment, according to the World Bank's Global Economic Prospects report. The manufacturing sector has declined across the world, while economies in Asia, South America and Africa have been hit by lower investment, the development bank said. Group President David Malpass said countries should undertake reforms to improve the outlook for business and investment while prioritising debt management and transparency.
Global economic growth will reach just 2.6% this year and 2.7% in 2020 as political uncertainty, including from the US-China trade war and Brexit, dents commerce and investment, according to the World Bank's Global Economic Prospects report. The manufacturing sector has declined across the world, while economies in Asia, South America and Africa have been hit by lower investment, the development bank said. Group President David Malpass said countries should undertake reforms to improve the outlook for business and investment while prioritising debt management and transparency.