World Bank Report Casts Fresh Hopes for Economic Recovery

Business » FINANCE | January 15, 2014, Wednesday // 11:54| Views: | Comments: 0
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The World Bank predicts a 3.2% global economic growth for 2014, with a tendency to rise even more over the following years.

The prediction reiterates the expectations of many experts and statesmen, who see 2014 as a year of recovery and the beginning of a post-recession era.

In its latest "Global Economic Prospects" report, the World Bank foreshadows a 3.2% global economic growth for 2014, 3.5% for 2015, and 3.6% for 2016.

"Five years after the global financial crisis, the world economy is showing signs of bouncing back this year, pulled along by a recovery in high-income economies", the report states.

The World Bank is positive that developing countries will also experience a significant impulse, stimulated by the recovery of the bigger economies.

The report cautions, however, that growth prospects in 2014 will be "sensitive to the tapering of monetary stimulus in the United States, which began earlier this month, and to the structural shifts taking place in China's economy".

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