Global Economic Prospects, January 2015 : Having Fiscal Space and Using It
Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies...
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| Online Access: | http://hdl.handle.net/10986/20758 |
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okr-10986-207582021-04-23T14:03:59Z Global Economic Prospects, January 2015 : Having Fiscal Space and Using It World Bank Group capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies. Weak global trade growth and lower commodity prices are projected to persist while financial conditions will likely tighten gradually. Risks to the outlook are still tilted to the downside. The stability of remittances may help some of the lowest-income countries weather shocks. In some developing economies, monetary policy challenges may be attenuated if falling commodity prices reduce inflationary pressures. Fiscal stimulus could effectively support growth if there is sufficient fiscal space. Some developing countries, however, have to rebuild fiscal space to preserve their ability to implement countercyclical fiscal policy, which has served them well over the decade. Both high-income and developing countries need to undertake structural reforms that promote growth and job creation and help achieve poverty reduction goals. The Global Economic Prospects is a World Bank Group Flagship Report. On a twice yearly basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through extensive research in the January edition and shorter pieces in the June edition. 2014-12-17T17:27:27Z 2014-12-17T17:27:27Z 2015-01-13 978-1-4648-0444-1 1014-8906 http://hdl.handle.net/10986/20758 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC Publications & Research :: Publication Publications & Research |
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Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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en_US |
| topic |
capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption |
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capital inflows developing countries forecasts growth inflation macroeconomics outlook macroeconomic outlook unemployment fiscal policy oil prices global trade consumption World Bank Group Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| description |
Global growth again disappointed in 2014 but a lackluster recovery is underway, with increasingly divergent prospects in major economies. Looking ahead, growth is expected to rise slowly, supported by continued recovery in high-income countries and receding domestic headwinds in developing economies. Weak global trade growth and lower commodity prices are projected to persist while financial conditions will likely tighten gradually. Risks to the outlook are still tilted to the downside.
The stability of remittances may help some of the lowest-income countries weather shocks. In some developing economies, monetary policy challenges may be attenuated if falling commodity prices reduce inflationary pressures. Fiscal stimulus could effectively support growth if there is sufficient fiscal space. Some developing countries, however, have to rebuild fiscal space to preserve their ability to implement countercyclical fiscal policy, which has served them well over the decade. Both high-income and developing countries need to undertake structural reforms that promote growth and job creation and help achieve poverty reduction goals.
The Global Economic Prospects is a World Bank Group Flagship Report. On a twice yearly basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through extensive research in the January edition and shorter pieces in the June edition. |
| format |
Publications & Research :: Publication |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_short |
Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_full |
Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_fullStr |
Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_full_unstemmed |
Global Economic Prospects, January 2015 : Having Fiscal Space and Using It |
| title_sort |
global economic prospects, january 2015 : having fiscal space and using it |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://hdl.handle.net/10986/20758 |
| _version_ |
1764447067166474240 |