World Bank projects global growth at 2.7% in 2017

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Source : Economic Times

  1. The World Bank today projected a global growth of 2.7 per cent in 2017,

    2. World Bank President Jim Yong Kim said as the financial body in its latest report said that 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.

    3. “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,” Jim said.

    4. In the latest edition of the Global Economic Prospects, the World Bank said growth in advanced economies is expected to edge up to 1.8 per cent in 2017.

    5. Investment growth fell to 3.4 per cent in 2015 from 10 per cent on average in 2010, and likely declined another half percentage point last year.

    6. “We can help governments offer the private sector more opportunities to invest with confidence that the new capital it produces can plug into the infrastructure of global connectivity,” said World Bank Chief Economist Paul Romer.

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