Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check. Facebook Twitter Pinterest The World Bank president, Jim Yong Kim, has voiced Brexit concerns. But the bank said prices remained low compared with market expectations and would continue to hit investment and government spending across the developing world for the rest of this year. The tumbling price of metals and food on world markets last year hit emerging and developing economies without triggering a significant rise in spending by richer countries. In one of the gloomiest predictions by an international forecaster, the bank said the effect of the collapse in oil income on developing countries would restrict global growth to 2.4% this year, well down on its January forecast of 2.9%.

Source: The Guardian June 07, 2016 19:52 UTC