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The World Bank is a global development institution that works to reduce poverty and increase shared prosperity around the world. The World Bank provides news, articles, and videos about its work, projects, and global initiatives. News: The World Bank regularly provides news about its initiatives, projects, and progress in reducing global poverty and increasing shared prosperity. The World Bank news page is updated on a regular basis with the most recent stories and announcements. Articles: The World Bank publishes a range of articles on a variety of topics related to global development and poverty reduction. These articles are written by World Bank experts and provide an in-depth look at a range of issues related to the organization’s work. Videos: The World Bank produces a range of videos which provide an insight into the organization’s work around the world. These videos cover topics such as poverty reduction, education, healthcare, and economic growth.
The World Bank has revised down India's GDP growth forecast while simultaneously increasing its global growth projections. According to its latest Global Economic Prospects report, India’s GDP growth for FY24 is seen at 6.3% compared to a previous estimate of 6.6% in January. This revision is primarily attributed to constraints faced by private consumption due to high inflation and increasing borrowing costs, as well as the impact of fiscal consolidation on government consumption.
In the latest Global Economic Prospects, World Bank raised 2023 global growth forecast to 2.1%, from January's projection of 1.7%. Nevertheless, growth forecast for 2024 was downgraded from 2.7% to 2.4%. Growth is expected to accelerate further to 3.0% in 2025.
The EAP region's GDP is predicted to accelerate to 5.5% in 2023, with a comeback in China balancing sluggish growth in a number of other economies. Growth in the EAP is predicted to drop to 4.6% and 4.5% in 2024 and 2025, respectively, as China's economy slows and the rest of the region experiences largely stable growth.
The World Bank in its outlook today (June 6) said that even though the global economy is likely to fall sharply this year, the Indian economy is likely to be slightly better and would dip to still-strong 6.3% from 7.2% last year. Get more World Economy News and Business News on Zee Business.
Real global GDP is set to climb 2.1% this year, the World Bank said in its latest Global Economic Prospects report. That's up from a 1.7% forecast issued in January but well below the 2022 growth rate of 3.1%.