The World Bank Group President Jim Yong Kim has slashed the global growth forecast of 2016 by 0.5 % to 2.4 %. According to WB group, the world economy will grow at 2.4% in 2016 and at 2.8% in 2017. The cut in the forecast was due to advanced economies experiencing mediocre growth, while low commodity prices, weak global trade, and stilted capital flows also impacted.
In January, the World Bank cut its forecast to 2.9 %, citing disappointing growth in major emerging market economies including China and Brazil. But India will remain one of the fastest growing major economies, ahead of China, for the next three years, the report said. However, it lowered India’s growth projections marginally by 0.2% to 7.6% for 2016-17 and 7.7% in 2017-18, citing the drag by exports on economic activity.
So let’s discuss some questions related to this post :
1. Name the group which has slashed the 2016 global growth forecast to 2.4%?
2. Who is the President of World Bank Group?
Courtesy : Economic Times