“It is estimated that global economic growth fell 2,3% in 2016, the weakest performance since the global financial crisis of 2009. However, 2,7% growth is expected in 2017, which mainly reflects a recovery in emerging markets and developing economies (EMDEs).
Advanced economies continue to struggle with subdued growth and too-low inflation rates, due to increased uncertainty about policy direction, tepid investment and sluggish productivity growth. Activity decelerated in the US and, to a lesser degree, in some other major economies. As a result, economic growth in these economies is estimated to have slowed to 1,6% in 2016, down 0,1% year-on-year. However, advanced-economy growth is expected to recover somewhat in 2017, to an average rate of 1,8%.
DEVELOPING ECONOMIES
Developing economies grew at an estimated 3,4% in 2016, broadly in line…