09:20 – 09:50 | Global Economic and Political Overview
by Alejandro González de Aguilar, Partner, Financial Advisory, Deloitte
The World Bank forecasts that global growth will strengthen to 2,7 percent in 2017 amid a pickup in manufacturing and trade, rising confidence, favorable global financing conditions, and stabilizing commodity prices. Growth in advanced economies is expected to accelerate to 1,9 percent in 2017, a benefit to their trading partners.
In Europe, this institution has announced that growth is projected to remain at 1,7 percent in 2017, better than anticipated in January. In 2018-19, growth is expected to moderate to 1,5 percent, as economic slack diminishes and the ECB gradually unwinds exceptional policy measures. Nevertheless, growth should remain well above potential growth, currently estimated at about 1,2 percent (European Commission 2017).
According to the World Bank, prospects remain clouded by elevated policy uncertainties, including election outcomes, the direction of Brexit negotiations, and financial sector fragilities such as high levels of non-performing bank loans in some economies. Policy changes in the United States, the single largest destination of Euro Area exports, also remain a source of uncertainty.
During our congress in Barcelona, you will receive a comprehensive overview of the key facts of the global political and economic scene.