Global economic growth is forecast to ease to a weaker-than-expected 2.6% in 2019 before inching up to 2.7% in 2020, the World Bank said, adding that growth in emerging market and developing economies is expected to stabilize next year as some countries move past periods of financial strain, but economic momentum remains weak. Emerging and […]
Agriculture prices are projected to fall 2.6 per cent this year but are estimated to rebound in 2020 due to lower crop production and higher costs for energy and fertilisers, the World Bank said in its April Commodity Markets Outlook. Agricultural and food prices are expected to remain stable over the medium term. However, sharp […]
Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said. Metal prices are expected to continue a recovery in 2019 that follows a sharp drop […]
India’s economic growth in recent years has been driven by domestic demand and its exports were about one third of its potential, a World Bank official said, asserting that the next government needs to focus on export-led growth. Praising attempts to liberalise markets within India, Hans Timmer, World Bank Chief Economist for the South Asia […]
Credit rating agency Fitch Ratings has lowered India’s economic growth forecast for the next financial year starting April 1, to 6.8 per cent from its previous estimate of 7 per cent, on weaker than expected momentum in the economy. “While we have cut our growth forecasts for the next fiscal year (FY20, ending in March […]
After several months of oil price rises and then a sharp reversal over the last few weeks, world oil markets are in for more heightened volatility next year because of scarce spare production capacity among OPEC members. This warning comes from the World Bank, which in the latest edition of its Russia Economic Report said that OPEC […]
The World Bank Group said early this week that it would double its current five-year investments to US$200 billion during the period 2012 through 2025 to support countries in their climate action plans. The $200 billion investment from the World Bank Group in 2021-2025 will consist of some $100 billion in direct finance from the World Bank […]
More than half of commodity prices (and all non-coal energy prices) are expected to increase in 2018, but four-fifths of them will remain below their 2011 peaks, the World Bank said in its latest Commodity Markets Outlook report, adding that energy prices are forecast to rise 20 percent in 2018—a 16 percentage point upward revision […]
South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India, the World bank said, adding that with the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year. The Bank’s twice-a-year South Asia Economic Focus (SAEF) finds […]
Growth in developing East Asia and Pacific (EAP) is expected to remain strong and reach 6.3 percent in 2018, according to the latest World Bank economic report on the region. Prospects for a continued broad-based global recovery and robust domestic demand underpin this positive outlook. Still, emerging risks to stability and sustained growth require close […]
