Recent Economic Developments and Prospects
The global economy will grow 3 to 3.5 percent this year, 0.5 percent higher than last year s 2.6 percent, and surpassing the average growth rate of 3.1 percent during 2000-08, before the financial crisis. The magnitude of the gains will depend on,...
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| Format: | Brief |
| Language: | English en_US |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/04/24398270/recent-economic-developments-prospects http://hdl.handle.net/10986/21766 |
| Summary: | The global economy will grow 3 to 3.5
percent this year, 0.5 percent higher than last year s 2.6
percent, and surpassing the average growth rate of 3.1
percent during 2000-08, before the financial crisis. The
magnitude of the gains will depend on, among other factors,
the share of oil imports in gross domestic product (GDP).
Oil exporters (including Russia) can see a sharp fall in
growth deteriorating fiscal balances with significant
regional consequences. Low oil prices have significantly
affected the economies of the oil exporters - accounting for
2-3 of the countries in the region. Economic growth in
Middle East and North Africa (MENA) is expected to continue
on the same path in 2016. If the security situation in Libya
improves and oil exports increase, the regional average can
surge to 4 percent to 5 percent in 2016. |
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