World Bank forecasts 2.7% global economic growth this year...Same as last year

The World Bank forecast that the global economy will grow by 2.7% this year, the same as last year.

In its World Economic Outlook report, the World Bank forecast that the global economy will grow by 2.7% this year and next year, respectively.

Developed countries' economic growth is expected to hit 1.7% this year and 1.8% next year, while the U.S. is expected to grow 2.3% this year and 2% next year.

Economic growth in developing countries is expected to be 4.1% this year and 4% next year, respectively, while China is forecasting 4.5% this year and 4% next year.

The World Bank said economic growth in developing countries is likely to remain stable at around 4% over the next two years, but a weaker performance than pre-COVID-19 would be insufficient to meet poverty alleviation and broader development targets.