Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future

The global economy got off to a bumpy start this year, but growth in 2015 and 2016 looks to be broadly on track. Projections for developing countries in 2014 have been down downgraded by 0.5 percentage points to 4.8 percent mainly reflecting weak first quarter growth in the US due to weather and the...

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Main Author: World Bank
Format: Publication
Language:en_US
Published: Washington, DC 2014
Subjects:
Online Access:http://hdl.handle.net/10986/18647
id okr-10986-18647
recordtype oai_dc
spelling okr-10986-186472021-04-23T14:03:48Z Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future World Bank capital inflows developing countries forecast growth high-income countries inflation macroeconomics monetary easing outlook unemployment The global economy got off to a bumpy start this year, but growth in 2015 and 2016 looks to be broadly on track. Projections for developing countries in 2014 have been down downgraded by 0.5 percentage points to 4.8 percent mainly reflecting weak first quarter growth in the US due to weather and the conflict in Ukraine. Going forward growth is projected to firm to 5.3 and 5.5 percent in 2015 and 2016 supported by easy global financial conditions and rebounding exports as high-income countries continue to recover under the influence of a reduced drag from fiscal consolidation and improving labor markets. Financial conditions will eventually tighten, and when they do there is risk of further volatility. Most developing countries are in good fiscal and financial shape, but where vulnerabilities remain countries need to tighten policy to reduce the potential impact of external shocks. Overall, growth for developing countries will be solid but not strong enough to generate the income and employment gains needed to eliminate poverty by 2013. As a result, countries need to focus on structural reform in order to lift growth in and enduring and sustainable manner. 2014-06-12T20:10:30Z 2014-06-12T20:10:30Z 2014-06 978-1-4648-0387-1 10.1596/978-1-4648-0387-1 http://hdl.handle.net/10986/18647 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo Washington, DC Publications & Research :: Publication
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language en_US
topic capital inflows
developing countries
forecast
growth
high-income countries
inflation
macroeconomics
monetary easing
outlook
unemployment
spellingShingle capital inflows
developing countries
forecast
growth
high-income countries
inflation
macroeconomics
monetary easing
outlook
unemployment
World Bank
Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
description The global economy got off to a bumpy start this year, but growth in 2015 and 2016 looks to be broadly on track. Projections for developing countries in 2014 have been down downgraded by 0.5 percentage points to 4.8 percent mainly reflecting weak first quarter growth in the US due to weather and the conflict in Ukraine. Going forward growth is projected to firm to 5.3 and 5.5 percent in 2015 and 2016 supported by easy global financial conditions and rebounding exports as high-income countries continue to recover under the influence of a reduced drag from fiscal consolidation and improving labor markets. Financial conditions will eventually tighten, and when they do there is risk of further volatility. Most developing countries are in good fiscal and financial shape, but where vulnerabilities remain countries need to tighten policy to reduce the potential impact of external shocks. Overall, growth for developing countries will be solid but not strong enough to generate the income and employment gains needed to eliminate poverty by 2013. As a result, countries need to focus on structural reform in order to lift growth in and enduring and sustainable manner.
format Publications & Research :: Publication
author World Bank
author_facet World Bank
author_sort World Bank
title Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
title_short Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
title_full Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
title_fullStr Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
title_full_unstemmed Global Economic Prospects, June 2014 : Shifting Priorities, Building for the Future
title_sort global economic prospects, june 2014 : shifting priorities, building for the future
publisher Washington, DC
publishDate 2014
url http://hdl.handle.net/10986/18647
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