World Bank bullish about global growth prospects

|By:, SA News Editor

The World Bank expects global economic expansion to accelerate to 3.2% in 2014 from 2.4% in 2013, led by advanced economies that seem "to be finally turning the corner" following the financial crisis.

In its Global Economic Prospects report, the bank also forecasts growth of 3.4% in 2015 and 3.5% in 2016.

The bank predicts that the U.S. will expand 2.8% this year, up from 1.8% last year.

While the Fed's scaling back of its bond-buying program is one headwind for global prospects, stronger growth in high-income countries should offset the impact of the taper, the bank says. (PR)

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