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WB: 2012 global economic growth at 2.5%

06-14-2012 10:12 BJT

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The World Bank is keeping its global growth forecast for 2012 at 2.5 percent, but is warning of significant headwinds ahead. This comes after a 2.7 percent expansion last year.

In its Global Economic Prospects report released on Tuesday, the World Bank also estimates global growth will pick up to three percent in 2013, and accelerate to 3.3 percent in 2014.

But the global lender does warn, developing countries should brace for a long period of financial market volatility and weaker growth, due to the impact of the eurozone debt crisis. It notes, growth in developing countries is likely to slow to 5.3 percent in 2012 from 6.1 percent last year. But on the upside, they will see a rebound to 5.9 percent in 2013.

As for China, the World Bank says economic growth will moderate to 8.2 percent this year from 9.2 percent in 2011.

Finally, the report notes that the embattled eurozone economy will contract by 0.3 percent this year before resuming growth of 0.7 percent in 2013 and 1.4 percent in 2014.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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