Figures are improved in developed countries
The World Bank has revised growth outlooks for the global economy in 2014. Countries with the most developed economies in the world are beginning to recover from the weakening of the policy of austerity.
In June 2013 the World Bank predicted increase by 3 %. But in early 2014 the Bank raised the rate to 3.2 %. It is expected that the economy this year will grow faster than in the past (2.4% growth). Thus, in developed countries it will grow to 2.2 %. Previously, economists had predicted an increase of 2%. Improvements in part based on the favorable situation in the euro area and the U.S.
The report on the global economic outlook states that the increase in output in developed countries significantly affects the global economy. In recent years, it was mainly stimulated with the developing countries.
These economies will experience slower growth. The Bank has lowered the forecast for China to 7.7 %, compared with the expected 8%. The economic development of Brazil reduced from 4% to 2.4%, economy of Mexico will decline from 3.9% to 3.4 %, India - from 6.5 % to 6.2 %.
Economic growth of developing countries in the period from 2013 to 2016 will slow down by about 2.2 % compared to previous years.
However, the World Bank reports that in 2015 the world economy will grow by 3.5%.
