Recent trends in the world economy

The world economy has seen a modest improvement in growth in 2014, although it will remain significantly below its pre-crisis highs. Its growth rate of around 2.3 per cent in 2012 and 2013 is projected to rise to 2.5-3 per cent in 2014. This mild increase is essentially due to growth in developed countries accelerating from 1.3 per cent in 2013 to around 1.8 per cent in 2014. Developing countries as a whole are likely to repeat their performance of the previous years, growing at between 4.5 and 5 per cent, while in the transition economies growth is forecast to further decelerate to around 1 per cent, from an already weak performance in 2013 (table 1.1).

Related Subject(s): Economic and Social Development