Global Economic Prospects (GEP) report revised down the economic growth forecast for developing world in 2014 from 5.3 percent to

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	4.5 percent
B	4.8 percent
C	5 percent
D	4.4 percent

Explanation:

Detailed explanation-1: -According to the report, the global economy is projected to grow by 1.7% in 2023 and 2.7% in 2024. The downturn in growth is expected to be widespread, with forecasts in 2023 revised down for 95% of advanced economies and nearly 70% of emerging market and developing economies.

Detailed explanation-2: -Recently, World Bank released its Global Economic Prospects report.

Detailed explanation-3: -The World Bank has revised its 2022-23 GDP forecast upward from 6.5 per cent in October to 6.9 per cent.

Detailed explanation-4: -The World Bank has revised its 2022-23 GDP forecast upward to 6.9 percent from 6.5 percent (in October 2022), considering a strong outturn in India in the second quarter (July-September) of the 2022-23 financial year.

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