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World Bank Cuts Japan 2024 Growth Forecast

World Bank Cuts Japan 2024 Growth Forecast

   Washington, June 11 (Jiji Press)--The World Bank on Tuesday cut its economic growth forecast for Japan for 2024 to 0.7 pct from 0.9 pct, while raising the global growth estimate for the year to 2.6 pct from 2.4 pct.
   The Japan growth forecast fell 0.2 percentage point from the previous estimate as of January, reflecting sluggish consumption and exports, as well as a halt in growth in demand from foreign tourists.
   Japan's economic growth is projected to rise to 1.0 pct in 2025, as consumption is expected to improve moderately.
   The upward revision to the 2024 global growth forecast is attributed to solid U.S. growth. Global growth is estimated at 2.7 pct for both 2025 and 2026.
   World Bank Chief Economist Indermit Gill said that the global economy is becoming stable.

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AFP-JIJI PRESS NEWS JOURNAL


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