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Global Economic Prospects January 2015
Report

Global Economic Prospects January 2015

Having Fiscal Space and Using It

World Bank Group
World Bank, 2015
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Editorial Rating

7

Qualities

  • Comprehensive
  • Analytical

Recommendation

This flagship report by the World Bank Group (WBG) predicts that the global economy will experience a lackluster recovery through 2017, with low oil prices and a patchy revival in high-income countries supporting relatively meager growth. In this meticulously researched, reader-friendly and well-annotated analysis, the WBG cautions that developing nations must expand their limited “fiscal space” to help them adapt to the changing economic environment. The WBG’s analysts include essays on fiscal policies, the implications of cheap oil for developing countries, global trade trends and the importance of worker remittances. Tables, graphs, figures and a statistical annex support each part of the report and feed into a central thesis: Economic risks abound, and nations will fare best that act now – while oil prices are low – to strengthen their fiscal buffers against future shocks. getAbstract recommends this timely, comprehensive and nuanced report to investors, risk managers, policy makers, analysts, decision makers in business and industry, and development executives at nongovernmental organizations.

Take-Aways

  • Global economic growth will be a modest 3% in 2015, edging up to 3.3% by 2017.
  • Developing economies will fare best, with an average GDP growth rate of 4.8% in 2015 and 5.4% by 2017.
  • However, risks to global growth are “significant and tilted to the downside.”

About the Author

The World Bank Group provides financial and technical assistance to developing countries.

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