June 4: The World Bank slashed its 2019 global growth forecast on Tuesday, portraying a world economy gripped by deepening trade conflict and tumbling confidence.

The latest Global Economic Prospects report shows the world economy is expected to expand by 2.6 percent this year, three tenths of a percentage point lower than the January forecast, and a slowdown from the three percent growth in 2018.

World Bank President David Malpass, who was nominated to his post by President Donald Trump, said global growth is “fragile” and “confronting substantial challenges.”

AFP/APP

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