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World Bank Released Global Development Finance, Expressing Optimism about Prospects of Economic Growth in Developing Countries
2008-06-17 11:08
  From:World Bank     Article type:Original



It was reported by Wall Street Journal that the annual report, Global Development Finance, which released by World Bank on June 10, expressing optimism about prospects of economic growth in the developing countries, and it expected that the economic growth and investment of developing countries in this year would only decline in a modest scale.
In the report, World Bank modified the forecast of global economic growth in 2008 from 3.3% in January to 2.7% and expected global economic growth in 2009 would rise to 3.0%. Meanwhile, the bank expected that the economic growth rate of developing countries in 2008 would remain at a good level of 6.5%, lower than the 7.8% of last year, and also lower than the 7.1% of the forecast in January. But after the world had experienced rapid growth in recent years, this would be a “more sustainable growth rate”. The World Bank considered that the economic growth of developing countries would be further slowed to 6.4% in the next year.

When being optimistic about prospects in the economic growth of developing countries, the World Bank also pointed out that the continued booms of global oil and food prices in developing countries would increase inflationary pressures and harm the interests of vulnerable groups; developing countries were facing an increasingly grim situation of global economy.
World Bank also predicted that the economic growth of United States and the euro zone in 2008 would be 1.1% and 1.7%, with 1.9% and 1.5% in 2009 respectively.

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