Although the price of oil lowered the ‘ global economy will grow less than was to be expected. Indeed, precisely the drop of oil will harm countries in Africa, Asia and South America, which depend on the sale of energy, more than it favors those who import black gold. In fact the reduction in energy prices failed to trigger cost increases expected in the more developed economies. Writes the latest bulletin published by the World Bank , according to which the global growth will stop at 2.4% this year, lowering its forecast from 2.9% in January.
And ‘one of the least generous among those forecasts of international institutions: last April the International Monetary Fund, for example, had expected a rise of global GDP by 3.2%. As for the The World Bank expects growth to 2% stable next year, while the ‘ Eurozone United States will have to settle 1.6% in both the 2016 is in 2017, but then fell to + 1.5% in 2018.
as for the countries most exposed to the falling oil prices the institution chaired by Jim Yong Kim, believes that other elements they have helped to determine the slowdown: the weaker global trade, the slowdown of public and private investment and the decline in manufacturing activity. The recent recovery of some raw materials such as steel, aluminum, zinc and the same oil, writes the World Bank, does not reach what was the level of market expectations.
Among reforms able to reverse the trend in the medium term, suggests the chief economist of the institute based in Washington, Kaushik Basu, there are “investments in infrastructure and education, health and other human skills, well-being, as well as valuable initiatives to promote economic diversification and improve living standards. “
source: Guardian
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