For the first time in many years, the World Bank's outlook for the global economy is better than expected rather than worse, with all regions seeing improved growth, according to the forecast released Tuesday.

The stocks have rallied to reach their all-time highs in the US. In addition to that, the rising valuations of global stocks including Asia, Europe and North America have helped the global outlook.

Since the last estimate in June, the World Bank has upgraded nearly all of its forecasts, with global economic growth now expected to rise to 3.0 percent for 2017, three-tenths of a point higher than the prior projection.

The biggest gains are in advanced economies, with Eurozone growth revised up 0.7 points to 2.4 percent in 2017, and another 0.6 points to 2.1 percent for 2018.