Developing Countries Lead Recovery
World Bank says developing countries are now leading the world economy post-crisis recovery process in America and Europe amid the collapsed economy. This was conveyed by Senior Economist Justin Yifu Lin of the World Bank World Bank in a teleconference on Thursday (10/06/2010).
“The performance of developing countries improved in the era of multi-polar growth is very encouraging,” he said.
World Bank predicts world GDP will rise by between 3.1 to 3.3 percent in 2010 and 2011, then rose to the range of 3.2 to 3.6 percent in 2012. Economies of developing countries is estimated to grow between 5 to 6.1 per cent per annum in 2010-2012, while developed countries only around 2 to 2.3 percent in 2010.
Justin emphasized, so that recovery can continue to run, developed countries must be able to take the opportunities offered by growth in developing countries.
Meanwhile, the World Bank’s Global Macroeconomic Manager Andrew Burns said developing countries are not immune to the impact of the crisis. Yet for the world economy continues to go well, developing countries are expected to continue to focus on growth strategies, simplify the way businesses and strategies for more efficient spending.
“Their purpose is to ensure that the investors can distinguish between them with a risk of risks in developed countries,” he added.
