WB Forecasts Global Economic Growth in 2013 Minding Possible Oil Price Decrease

According to the World Bank (WB), the average price of a barrel of oil will decline by 2.5 percent and reach $102.4 in 2013, WB report "Global Economic Prospects" said.

The WB predicts that the oil prices will continue declining in the coming years. However, WB specialists predict global GDP growth in 2013.

"The world GDP growth rate will hit around 2.2 percent this year and then increase to 3 percent in 2014," the report said. "The global GDP growth rate will amount to 3.3 percent in 2015.

According to the latest forecasts, the GDP of developing countries will grow by about 5.1 percent in 2013 and then increase by 5.6 percent and 5.7 percent in 2014 and 2015 respectively."

"In these circumstances, the developing countries that have recovered from the crisis circumstances or will do this in 2013, must toughen their macroeconomic policy to prevent inflation."

Source: Trend