economy

World Bank downgrades global growth in 2016; cites slowdown in major emerging economies

Global growth disappointed again in 2015 – slowing to 2.4 per cent – and is expected to recover at a slower pace than previously envisioned, the World Bank Group said today in a new report, which also warned that a broad-based slowdown across developing countries could pose a threat to hard-won gains in raising people out of poverty.