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Prospects are for a slow acceleration in global economic growth driven by high-income economies

Global GDP growth is projected to accelerate gradually from 2.4 percent in 2013 to 3.5 percent by 2016, mainly reflecting a slow but steady improvement in outturns among high-income economies and the developing countries of Europe and Central Asia.

Developing country GDP is estimated to have grown about 4.8 percent in 2013, roughly the same pace as in 2012, reflecting weakness at the start of the year. However, as discussed earlier, growth accelerated in the second half of 2013 and has generated a positive carry over for 2014, with GDP expected to expand by 5.3 percent, broadly in line with potential (figure 18).

FIGURE 18Developing countries are expected to grow in line with potentialDownload the chart data
Source: World Bank