World bank provides positive forecast for the future

Four years after the onset of the global financial crisis, the worst appears to be over, the World Bank said. However, the global economy remains fragile, as high-income countries continue to suffer from volatility and slow growth, the World Bank said in its report "Global Economic Prospects", issued Tuesday. The World Bank estimates global GDP grew 2.3% in 2012. Growth is expected to remain broadly unchanged at 2.4% growth in 2013, before gradually strengthening to 3.1% in 2014 and 3.3% in 2015. Developing countries recorded among their slowest economic growth rates of the past decade in 2012, with GDP estimated to have grown 5.1%. Growth for developing countries is projected to expand by 5.5% in 2013, strengthening to 5.7% and 5.8% in 2014 and 2015, respectively. Growth in high-income countries remains weak, with their GDP expanding only 1.3% in 2012 and expected to remain slow at an identical 1.3% in 2013. Growth should gradually firm to 2% in 2014 and 2.3% by 2015. In the Euro Area, growth is now projected to only return to positive territory in 2014, with GDP expected to contract by 0.1% in 2013, before edging up to 0.9% in 2014 and 1.4% in 2015.