The World Bank on Tuesday forecast Japan's economic growth at 1.3 percent in 2018, decelerating from an estimated 1.7 percent increase in 2017 as fiscal stimulus is withdrawn and export growth moderates.
Global growth is projected to edge up to 3.1 percent this year from an estimated 3.0 percent last year as the cyclical momentum continues, the Washington-based development institution said in its semiannual Global Economic Prospects report.
Japan's growth rate is expected to slow further to 0.8 percent in 2019, "in line with average potential growth estimates," and to 0.5 percent in 2020 due to a planned 2-percentage-point increase in consumption tax to 10 percent.