Washington — Global economic growth will reach 3.1% in 2018 and slightly moderate later, the World Bank said in a new report.
Global economic growth will edge up to 3.1% in 2018 after a much stronger than expected 2017, driven by the recovery in investment, manufacturing and trade, the World Bank pointed out.
It will be the first time since the financial crisis that growth is operating at its full potential.
The forecast is better than what the bank was expecting in its previous assessment last June.
"The broad-base recovery in global growth is encouraging but this is no time for complacency," said World Bank President Jim Yong Kim.
"This is a great opportunity to invest in human and physical capital. If policy makers around the world focus on these key investments, they can increase their countries' productivity, boost workforce participation, and move closer to the goals of ending extreme poverty and boosting prosperity," he added.