Friday, January 25, 2013
World Bank Projects Slow Economic Growth
Global Economic Prospects 2013: Assuring Growth Over the Medium Term The World Bank projects slow economic growth in 2013. World economic growth is projected to be about the same as 2012: +2.4% vs. +2.3%. Some countries will accelerate growth in 2013 (Brazil, Russia, India, China) while some decelerate slightly (USA, OECD, Japan). GDP growth in general will rebound in 2014 and 2015, but the "road ahead remains bumpy".
High Income Countries GDP by Year The World will outperform the higher income countries and areas from 2013 through 2015. The USA is forecast to outperform the OECD, Japan, and the Euro Area from 2013 through 2015. However, the USA will underperform the World average. Japan is forecast to outpace the Euro Area, which will continue in a recession through 2013.
BRIC Countries GDP by Year China continues to lead BRIC and the World, but at a slowing pace. India continues in second with Brazil overtaking Russia in 2014. All 4 BRIC countries are projected to outperform the World average.
World GDP by Year Developing Countries continue to lead the World and High Income Countries.
World Bank Urges Developing Countries to Safeguard Economic Growth, as Road Ahead Remains Bumpy (Jan 13, 2012) WASHINGTON, January 15, 2013 – Four years after the onset of the global financial crisis, the world economy remains fragile and growth in high-income countries is weak. Developing countries need to focus on raising the growth potential of their economies, while strengthening buffers to deal with risks from the Euro Area and fiscal policy in the United States, says the World Bank in the newly-released Global Economic Prospects (GEP) report.
World Bank President: Growth in High and Low Income Countries Remains Weak "We can't wait for a return to growth in high-income countries," says World Bank Group President Jim Yong Kim. "So we have to continue to support developing countries in making investments in infrastructure, in health, in education." Four years after the onset of the global financial crisis, the world economy remains fragile and growth in high-income countries is weak, says the new Global Economic Prospects Report.