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WASHINGTON, Jan 15 (Reuters) – The World Bank sharply cut
its 2013 outlook for the world economy on Tuesday, blaming an
unexpectedly sluggish recovery in developed countries for
holding back global growth.
In its twice-yearly Global Economic Prospects report, the
bank forecast that global gross domestic product will inch up
2.4 percent this year from 2.3 percent in 2012. In its last
forecast in June, the World Bank projected global growth would
reach 3.0 percent in 2013.
“What we are seeing is a recovery we anticipated in June
being pushed a little further back in time, beginning closer to
the end of the first quarter and into the second quarter of
2013, rather than beginning a little earlier,” said Andrew
Burns, lead author of the report.
