Global Economic Prospects Report - Quick Notes
- The World Bank forecast was retained on June 4, 2014, that global growth will increase by 2.7% in 2017, quoting a position of production and trade, improved market confidence and recovery of a commodity price. The update of the Global Economic Potential Report of the Multinational Development Credit Provider for the first time in a few years has revealed that its June forecast was published in January due to those who increase the risk of increased growth.
- According to the World Bank's 2017 Worldwide Growth Forecast for the year 2017, a tenth (10th) percentage point increase has increased by January 2012 compared to its 2.4% estimate.
- It said the development of improved economics, especially Japan and Europe, when seven (7) largest emerging markets - China, Mexico, Indonesia, Brazil, India, Russia and Turkey - are helping to increase the worldwide growth.
- Japan's forecast ratio increased by 0.6% to 1.5% in Japan compared to January 2017; The euro zone 'forecast was 0.2% point increase to 1.7%.
- The World Bank said that the growth in the United States is also improving but the cost of consumer spending is due to poor growth in the year caused by a pullback 0.01% off for 2.1% forecast for 2017. It is considered temporary, it predicts the 2011 United States forecasts that China is 6.7% will be reduced to 6.5%.
- However, it is warned that new trade restrictions can prevent the recovery of trade, which refers to the action done by the Donald Trump administration to benefit many developed and developing economies.
- India has nothing to recover from the temporary disaster of the recent disaster of the World Bank, the World Bank predicted strong 7.2% increase this year, compared to 6.8% growth before 2016.
- Even India's growth statistics have improved by 0.4% of the World Bank compared to the January 2014 forecast, but India has become the fastest growing economy in the world.
- Among its latest global economic prospects worldwide, by 2018, 2018 India's growth has increased by 7.5% and in 20107 77%. In both the years, the forecasts were downgraded by 0.3% and 0.1% points compared to the January 2017 forecast.
Major Points - Points You Need to Know
- The economic activity of India was influenced by a favourable monsoon, which supported agricultural and rural expenditure, increased infrastructure expenditure and strengthened the government.
- Domestic demand is expected to remain firmly supported by reforms as GST.
- Increasing exports in the South Asian economy, lowering oil prices, infrastructure spending and supporting Macro-economic policies are benefited in 2016.
- Increasing government expenditure, including capital formation, partially offset soft personal investment