Developing Economies News

World Bank on Sunday maintained its forecast for global growth in 2017 and 2018 unchanged at 2.7 percent and 2.9 percent, respectively, as manufacturing and trade are picking up and confidence is improving.  

In 2013, air pollution claimed 1.4 million lives in India, whereas China, which is the world's most populous country, lost 1.6 million lives.

India has underlined the need for a judicious mix of fiscal, monetary and structural policies by major economies to deal with the heightened uncertainty on account of Brexit.

The Manila-based lender's report said the growth forecast for 2017 of 5.7 percent made in March remains unchanged.

Godrej group will continue to scout for acquisitions in the FMCG sector in the developing economies, including India, to fulfill its vision of having 10-fold growth by 2020.

Director of Development Prospects at the World Bank Ayhan Kose said that growth has been slowing in an orderly fashion in China.

Developing countries grew by 4.4 per cent in 2014 and are expected to edge up to 4.8 per cent in 2015, strengthening to 5.3 and 5.4 per cent in 2016 and 2017, respectively, it said.

Growth momentum is weakening in major developing economies with the exception of India while the economic outlook is stable for most developed countries, the OECD said on Tuesday.