Global growth back at pre-crisis levels, says World Bank

welder / jobs

This article was originally published by Andrew Walker at BBC News – Business.

The World Bank says global economic growth is likely to speed up this year, after a stronger than expected 2017.

The bank’s new forecast is that the world economy will expand by 3.1% this year before slowing slightly.

It will be the first time since the financial crisis that growth is operating at its full potential.

However, the report warns the upswing will be short term, with gains in improving living standards and reducing poverty levels at risk long term.

For the immediate future, the bank sees a reasonably upbeat prospect.

The bank’s president Jim Yong Kim said: “The broad-based recovery in global growth is encouraging”.

The forecast is better than what the bank was expecting in its previous assessment last June.

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