In its bi-annual Global Economic Prospect report, the World Bank estimated 0.4% to 3% global economic growth in 2015, while emphasizing a strong deceleration for Argentina, Venezuela and most of the Latin American continent with the exception of Mexico.
According to the official document, Argentina will finish 2015 with a contraction in its growth rate of 0.3%.
The main reason for the adverse forecast is explained under the ‘Disappointments’ title, arguing that “The recovery has been weaker than anticipated in June 2014, partly for one-off reasons, with a string of disappointing growth outturns in the Euro Area, Japan, parts of emerging Europe (especially Russia) and Latin America”, the document says.
In general terms, it adds that “overall, global growth is expected to rise moderately, to 3.0 percent in 2015, and average about 3.3 percent through 2017,” as described in its first chapter.
Brazil’s 0,1% growth during 2014 led to lower predictions for 2015, only 1%, which could contribute to a knock-on effect in the region this year.
buenosairesherald.com