World Economic Situation and Prospects mid-2014

WESP 2014

The latest updated global growth trajectory from the World Economic Situation and Prospects as of mid-2014 is 2.8 per cent in 2014 and 3.2 per cent in 2015, slightly lower than previously forecast in the World Economic Situation and Prospects 2014 released in January. The recovery in the developed economies will continue, but the growth prospects for the developing economies and the economies in transition have been revised downward, largely because of challenging economic and/or political conditions in a number of countries in these two latter groups.

This mid-year update identifies a number of risks and uncertainties for the world economy, including international spill-overs from the future unwinding of the monetary easing by major developed economies; vulnerabilities of emerging economies on both external and domestic fronts; remaining fragilities in the euro area; unsustainable public finances in the longer run for many developed countries; and risks associated with geopolitical tensions.