Editor in Chief: Moh. Reza Huwaida Saturday, November 25th, 2017

World Expects G20 Summit to Push for more Inclusive Economy

World Expects G20 Summit to Push for more Inclusive Economy

BERLIN - World leaders are expected to meet at an annual G20 summit held in Hamburg, Germany on the weekend, discussing issues such as economic growth, international trade and financial market regulations.
The event, scheduled for July 7-8, is a major platform for global governance, during which heads of state and government are expected to send a clear message for shaping a strong, sustainable and inclusive world economy.
LONG-AWAITED RECOVERY
The world economic recovery has gained momentum since last summer, with many countries witnessing a boost in investment, manufacturing and trade.
The International Monetary Fund (IMF) therefore updated its expectation of the world economic growth to 3.5 percent for 2017 and 3.6 percent for the next year.
The World Bank predicted that the world economy will grow 2.7 percent this year and 2.9 percent next year, both higher than the 2.4-percent growth in 2016.
However, economists pointed out that the current recovery is not strong, and the downside risks including structural problems and rising protectionism still cloud the medium-term outlook.
The world economic growth rate will remain likely below the pre-crisis levels, Christian Dreger, director of International Economic in German Institute for Economic Research, told Xinhua. (Xinhua)