Global Economic Prospects (GEP) is a World Bank Group flagship publication that, semi-annually, examines global economic trends and how they affect developing countries.
Ms. Franziska Ohnsorge, lead author of the report, presented the analysis contained in the latest edition, including a view on growth prospects for developing countries, high income countries and the global economic and financial environment.
This edition of the GEP notes that developing countries face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs in a new era of low prices for oil and other key commodities. This will result in a fourth consecutive year of disappointing economic growth this year, with developing countries now projected to grow by 4.4 percent this year, rising to 5.2 percent in 2016, and 5.4 percent in 2017.
The report also includes two special features on the ‘U.S. Interest Rate Liftoff: What are the Potential Risks for Emerging and Developing Countries?’ and ‘After the Commodities Boom – What Next for Low-Income Countries?’