Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, May 21, 2018 04:38:11 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Uncertainty over Trump policy clouds global outlook: WB

By
12th-Jan-2017       
Comments
Share your thought
Post a comment »
Read all () »

AFP, Washington :
The World Bank on Tuesday pared back its global growth estimate for 2017, but uncertainty about the economic policies of US President-elect Donald Trump is clouding the outlook.
"We need to pay attention. All eyes are on US policymakers and how they will formulate their policies," Ayhan Kose, main author of the World Bank's global forecast, told AFP in an interview.
"What happens in the United States does not stay in the United States."
In the semi-annual Global Economic Prospects report, the World Bank lowered the estimate for global growth this year a tenth from the June forecast, to 2.7 percent compared to the 2.3 percent growth seen last year.
The World Bank maintained its US forecast at 2.2 percent following a sluggish 1.6 percent in 2016.
But those estimates could go much higher.
Even the table in the report displaying the forecasts for the major regions and economies comes with a footnote warning about the uncertainty: "The US forecasts do not incorporate the effect of policy proposals by the new US administration, as their overall scope and ultimate form are still uncertain."
Kose said it is simply too soon to draw any conclusions, however a simulation showed the individual and corporate tax cuts that Trump discussed during the campaign could on their own add three-tenths to the US growth rate this year, and more than double that in 2018.
And infrastructure spending could have an even larger impact.
"These are significant increases," he said.
"A healthy US economy is good for the rest of the world," since an increase in US growth of one full percentage point could boost advanced economies by eight-tenths after a year, and emerging markets by six-tenths.
So global growth potentially could rise another tenth this year to 2.8 percent, and get a three-tenths boost in 2018, he said.
However, he was quick to stress the caveats to this estimated impact: It will depend on the timing of the tax cuts, how they impact inflation, and how the Federal Reserve reacts.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

RAB must not prove we are unfit to save life of our own citizens


IN the last 15 days, nine alleged criminals were killed during "gunfight" with Rapid Action Battalion (RAB). Of them, three alleged drug traders were killed in Jassore early Friday, according to a newspaper report. Besides, six other people were killed in shootouts with RAB in different parts of the country, ...

Entertainment »

Shaon renders song under Nachiketa’s composition


Entertainment Report :Meher Afroze Shaon is popularly known as both an actress and a singer. Few days ago, she gave her voice for a playback song. Till now the listeners did not hear the song. After Eid, Shaon is coming with that song. For the first time Shaon has rendered ...

Sports »

Germany`s Alexander Zverev reacts after winning a point to Croatia's Marin Cilic during their semifinal match at the Italian Open tennis tournament in Rome on Saturday.


Football »

Union rout Real Salt Lake 4-1


AP, Chester :Marcus Epps and Borek Dockal scored in the first half and the Philadelphia Union added two more in the second to beat Real Salt Lake 4-1 on Saturday night.Fabrice-Jean Picault had a 40-yard run up the left channel to set up the opening goal in the 21st minute, ...

City »

DMP Mobile Court conducted drive in city's 9 New Market 'Fast Food' Pizza Fried Rice Shops, penalises Taka four lakh 30 thousand for preparing rotten food. This photo was taken on Sunday.


International »

Cleric Sadr meets Iraq PM Abadi, hinting at coalition


Reuters, Baghdad  :Iraqi Prime Minister Haider al-Abadi met with Moqtada al-Sadr on Saturday, less than 24 hours after the Shi'ite cleric's bloc was declared winner of Iraq's parliamentary election, the clearest sign yet they could work together to form a coalition."During our meeting, we agreed to work together and with ...

Sports »

Toronto FC forward Jordan Hamilton (22) and Orlando City defender Mohamed El-Munir (13) chase the bouncing ball during the first half of an MLS soccer match in Toronto on Friday.


Sports »

Jordan Spieth watches his tee shot on the first hole during the second round of the AT&T Byron Nelson golf tournament at Trinity Forest Golf Club in Dallas on Friday.


Entertainment »

Raazi`s first week collections become the 5th highest of 2018


Raazi has been sailing smoothly on its journey towards the prestigious Rs 100 crore club and it will be no shocker if the film grosses over it. The cast and crew of the film recently held an event to celebrate the success of the film with the media as well ...

Entertainment »

Kareena says she'll never be on social media


Shashanka Gosh's Veere Di Wedding is all set to bring the gorgeous Kareena Kapoor Khan back to the big screen after a gap of two years. The actress took a break after giving birth to Bollywood's most popular toddler Taimur Ali Khan. Kareena will be seen alongside Sonam Kapoor, Swara ...

City »

BNP Standing Committee Member Dr Khondkar Mosharraf Hossain speaking at a discussion on 'Acceptable Election and Role of the Present Election Commission' organised by 'Nagorik Adhikar Andolon Forum' at the Jatiya Press Club on Saturday.


Editorial »

Myanmar will take back their people: We are unconcerned about the terrorists


AS the monsoon threatens the Rohingya refugees with the outbreak of vector-borne epidemics and diarrhoeal diseases, the repatriation process seems to be getting more and more complex. However, Bangladeshi officials at a meeting in Dhaka on Thursday urged Myanmar to hand over a 'specific list' of members of Arakan Rohingya ...

International »

White House pushes ahead with Mideast peace plan


AP, Washington  :The Trump administration is aiming to roll out its much-hyped but long-delayed Middle East peace plan next month amid signs it may further alienate the Palestinians by slashing millions of dollars in funding for humanitarian and development projects in the West Bank and Gaza.Five U.S. officials and a ...

Editorial »

Don`t ignore the UNHRC`s report : Be respectful to human rights and be with the people


THE UN Human Rights Council (HRC) has adopted a draft report on the human rights review of Bangladesh, with recommendations on taking steps to deter forced disappearances, extra judicial killings, and to ensure freedom of expression in media, politics and religion. During the 30th Session of the Universal Periodic Review ...

Football »

Richet Gomez of Bolivia's The Strongest (left) fights for the ball with Guzman Pereira of Uruguay's Penarol during a Copa Libertadores soccer game in Montevideo, Uruguay on Thursday.


.

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news