(MENAFN- Trend News Agency) Baku, Azerbaijan, Jan. 21
By Sara Israfilbayova - Trend:
The International Monetary Fund (IMF) has predicted a decline in global economic growth in 2019-2020, Trend reports referring to the World Economic Outlook.
The report said that the growth of the world economy will be 3.5 percent in 2019 and 3.6 percent in 2020, which is 0.2 and 0.1 percent, respectively, lower than the forecasts made in October 2018.
The growth of the world economy in 2018 was 3.7 percent, as predicted in the previous report.
"GDP growth in developed countries will decline from 2.3 percent in 2018 to 2 percent in 2019 and 1.7 percent in 2020," according to the IMF.
The report noted that the greatest slowdown in economic growth is expected in Germany, France and Italy, but the IMF retained the October growth forecast for the UK at 1.5 percent in 2019-2020 due to uncertainty about the Brexit results.
The growth in developing economies will also slow to 4.5 percent in 2019 and but rise to 4.9 percent in 2020.
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