Posted on : February 5, 2019
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The global economy is on a synchronous upswing for the first time since the global financial crisis. All major economies enjoyed economic growth last year and are expected to continue throughout the 2018-2022 forecast period. The Global Business Policy Council projects that growth will accelerate from 2.9 percent in 2017 to 3.1 percent this year, and it will average 2.9 percent growth annually through 2022. Emerging markets in Asia wants to continue to be the primary driver of growth in the world economy. Stronger performance seeks to be supported by increases in the growth forecast in commodity exporting regions such as Eurasia, sub-Saharan Africa, and Latin America and improved economic performance in large developed markets. The economic expansion in developed markets is slow in the near term, but it wants to stabilize at modest growth rates towards the end of the forecast period.