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World Bank downgrades global growth in 2016; cites slowdown in major emerging economies

World Bank downgrades global growth in 2016; cites slowdown in major emerging economies

Jan 08, 2016, at 03:12 pm

New York, Jan 8 (Just Earth News/IBNS) Global growth disappointed again in 2015 – slowing to 2.4 per cent – and is expected to recover at a slower pace than previously envisioned, the World Bank Group said on Thursday in a new report, which also warned that a broad-based slowdown across developing countries could pose a threat to hard-won gains in raising people out of poverty.