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World Bank Report cuts global growth forecast to 2.4%

World Bank Report cuts global growth forecast to 2.4%
09 June 2016 Current Affairs: The World Bank in its report on global economic prospects has cut global growth forecast to 2.4% in 2016 and at 2.8% in 2017. The growth rate was lower than its earlier forecast of 2.9% and 3.1% respectively, mainly on account of a slower than expected recovery in advanced economies.

The cut in global forecast was due to mediocre growth experienced by advanced economies, while low commodity prices, weak global trade and stilted capital flows also impacted. India will remain one of the fastest growing major economies, ahead of China, for the next three years. India’s growth projections have been marginally lowered by 0.2% to 7.6% for 2016-17 and 7.7% in 2017-18 due to downfall of exports.

India has benefitted from the fall in oil prices through a reduction in the import bill, but its exports also have shrunk for 17 consecutive months as of April 2016. India’s domestic risks such as slow progress in structural reform agenda including power sector reforms, land reforms and tax reforms and vulnerabilities in corporate and banking sector balance sheets could impact the economy. Global slowdown and fall in commodity prices have shrunk world trade projections. China’s growth projections are at 6.7% and 6.5% for 2016 and 2017, respectively.

 


December 2016 Current affairs
9 DEC
NEWS
8 DEC
NEWS
7 DEC
NEWS
6 DEC
NEWS
5 DEC
NEWS
3 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
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25 AUG
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