That is what the World Bank makes known in its semi-annual forecasts.
According to the institute, global growth will be 2.8 percent, from an estimated 3 percent in January. The estimate for the joint economy of the emerging markets went down by 0.4 percentage point to 4.4 percent.
Source: World Bank – © NU.nl/Shannon Bakker
The World Bank thinks, among other things, that the Brazilian economy is shrinking this year, while progress was made in the South America.
The prognosis for Nigeria, the largest economy in Africa, was reduced by a full percentage point to 4.5 percent. According to the World Bank, there is a “structural slowdown” in emerging countries that is likely to last for years.
The forecast for the US economy, the world’s largest, was lowered to 2.7 percent, from 3.2 percent in January. The economy of the eurozone will grow more strongly than previously thought, according to the World Bank. That prognosis went from 1.1 to 1.5 percent.
The growth forecast for China remained unchanged at 7.1 percent. Japanese growth is expected to reach 1.1 percent. India is likely to be the strongest growing economy at 7.5 percent this year, according to the World Bank.
The Organization for Economic Cooperation and Development (OECD) also adapted its forecast for the world economy down this month. According to the OECD, growth is 3.1 percent this year, compared to 3.7 percent. In 2014, the world economy advanced by 3.3 percent.