World Bank lowers global growth forecast to 3%
January 14 , 2015
The World Bank has lowered its forecast for global growth, stressing that the United States cannot by itself steer an economic recovery, as per media reports.
The bank in its latest report has predicted 3% global growth for the current year and 3.3% for the next, down from its June corresponding figures of 3.4% and 3.5%.
Chief economist Kaushik Basu said that the global economy was “running on a single engine”, referring to the US.