The World Bank on Tuesday released its baseline economic forecast, predicting that the global economy would grow at a rate of 2.4 percent in 2013 before strengthening to 3.1 percent in 2014.
In its newly-released flagship report Global Economic Prospects (GEP), the World Bank said the world economy remains fragile and prone to further disappointment, although the balance of risks is now less skewed to the downside than its has been in recent years.
Global economic growth is expected to be at a relatively weak 2. 3 percent and 2.4 percent in 2012 and 2013 respectively and gradually strengthen to 3.1 and 3.3 percent in 2014 and 2015, the Washington-based Bank noted in the report.
In its last forecast in June, the World Bank projected global growth to reach 3.0 percent in 2013.