News | Wednesday, 08 July 2009

World Bank excludes Malta from latest global economic forecasts

Charlot Zahra

The World Bank has excluded Malta from its latest global economic forecasts for 2010 and 2011 despite the fact that the Euro zone is included in its forecasts.
The Global Development Finance (GDF) report, which was published by the World Bank on 22 June, includes growth projections for the whole world as well as for developing countries, but not Malta.
Asked by Business Today about the reason for the exclusion of Malta from the World Bank’s GDF report, a spokesperson for the World Bank told Business Today that the bank “does not prepare forecasts for all countries”
Among the total 67 high-income countries, the bank produces forecasts for only 40, whereas among the total 145 developing countries, the bank produced forecasts for 112.
“These forecasts that we produce, while not inclusive of every country, account for over 98 per cent of world GDP,” the World Bank spokesperson told Business Today.
According to the World Bank report, global GDP growth was expected to rebound to 2 per cent in 2010 and 3.2 per cent by 2011.
In developing countries, growth was expected to be higher, at 4.4 per cent in 2010 and 5.7 per cent in 2011, “albeit subdued relative to the robust performance prior to the current crisis”, the World Bank announced in its report.



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08 July 2009


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