World Bank envisions global economic recovery

The World Bank expects the global economic recovery to expand 2.7 percent in 2017, after a weaker level of 2.3 percent last year.

World Bank experts believe that the growth of economic production in industrialized countries will be 1.8 percent. Emerging and developing economies will climb 4.2 percent on the back of slowly rising commodity prices, up from 3.4 percent last year.

In 2016, the World Bank predicted 2.4 percent growth due to lower commodity prices and a slowdown in the economy, especially in industrialized countries. “After years of disappointing global growth, we now see better economic prospects on the horizon,” said World Bank President Jim Yong Kim.