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World Bank predicts 2.7 percent global growth
Posted on: 12/Jan/2017 10:18:06 AM
In the latest edition of the Global Economic Prospects, the World Bank has projected a global growth of 2.7 per cent in 2017. World Bank President Jim Yong Kim said as the financial body in its latest report said: After years of disappointing global growth, we are encouraged to see stronger economic prospects on the horizon. Global economic growth is forecast to accelerate moderately to 2.7 per cent in 2017 after a post-crisis low of 2.3 per cent in 2016.Now is the time to take advantage of this momentum and increase investments in infrastructure and people. This is vital to accelerating the sustainable and inclusive economic growth required to end extreme poverty.
The World Bank scaled down India`s GDP growth for 2016 to 2017 to a still robust 7 per cent, from its estimate of 7.6 per cent in June - taking into account the impact of demonetization. The immediate withdrawal of a large volume of currency in circulation and its subsequent replacement with new notes announced by the government in November contributed to slowing growth in 2016.
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