World Bank President David Malpass announced on Monday that the organization will raise its global growth outlook by three tenths to 2% after the lockdown in China due to the pandemic is lifted.
“This is an upward revision partly due to better prospects in China after the blockade is lifted,” Malpass said at a press conference ahead of the World Bank and International Monetary Fund (IMF) spring meetings. starting this Monday.
China should grow 5.1% this year, up eight-tenths from January’s estimate.
He pointed out that the increase in the forecast is also due to global growth, with consumption levels higher than expected, for example, in the US and Europe.
However, the World Bank president expected “slower” activity in the second semester.
Malpass recently announced that he would be leaving the World Bank on June 30th.