{"id":115470,"date":"2021-06-29T20:30:28","date_gmt":"2021-06-29T15:00:28","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=115470"},"modified":"2021-07-01T11:59:59","modified_gmt":"2021-07-01T06:29:59","slug":"world-banks-global-economic-prospects-gep","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/world-banks-global-economic-prospects-gep\/","title":{"rendered":"World Bank\u2019s Global Economic Prospects (GEP)"},"content":{"rendered":"<p><b><span data-contrast=\"auto\"><br \/>\nSource:\u00a0<\/span><\/b><a href=\"https:\/\/epaper.livemint.com\/Home\/ShareArticle?OrgId=296a598d6ed&amp;imageview=0\" target=\"_blank\" rel=\"noopener\">Livemint<\/a><\/p>\n<p><b><span data-contrast=\"auto\">Syllabus: <\/span><\/b>\u00a0Indian Economy and issues relating to planning, mobilization, of resources<\/p>\n<p><span data-contrast=\"auto\"><strong>Synopsis<\/strong>: The World Bank releases a Global Economic Prospects (GEP) report twice a year. It is the most important source for evaluating the current and future outlook for emerging markets and developing economies (EMDEs). The recently released edition is significant because of the warnings it contains.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Key findings of the recent Global Economic Prospects report<\/span><\/b><span data-contrast=\"auto\">:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"9\" data-aria-level=\"1\"><span data-contrast=\"auto\">The world economy is recovering from the pandemic.\u00a0While the advanced economies (with successful or rapidly progressing covid vaccination\u00a0programmes) appear to return to or even exceed their earlier growth rates.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">Emerging markets and developing economies (EMDEs) prospects are more mixed.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">The strongest-looking emerging-market region is <strong>East Asia<\/strong> and the <strong>Pacific<\/strong> followed by <strong>South Asia.<\/strong>\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">The huge global disparity in vaccine access means that <strong>poorer countries are likely to face more waves of the coronavirus<\/strong> and its variants in the coming months and years.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\"><strong>Inflation<\/strong>: If inflation in advanced economies persists, central banks may be compelled to tighten monetary policy. That could lead to higher capital inflows for advanced economies and the depreciation of EMDE currencies.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" aria-setsize=\"-1\" data-aria-posinset=\"10\" data-aria-level=\"1\"><span data-contrast=\"auto\">The report shows that one big stumbling block to faster growth and progress for EMDEs is the\u00a0<\/span><b><span data-contrast=\"auto\">high cost of a trade<\/span><\/b><span data-contrast=\"auto\">.\u00a0Tariffs account for only one-fourteenth of the total cost of trade, with logistics, transport, bureaucracy and corruption making up the rest.\u00a0As a result, a\u00a0<\/span><b><span data-contrast=\"auto\">good sold to another country costs on average double what it does domestically<\/span><\/b><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Key findings of the Global Economic Prospects related to India<\/span><\/b><span data-contrast=\"auto\">:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"14\" data-aria-level=\"1\"><span data-contrast=\"auto\">The World Bank estimates that covid will cause the number of people living in poverty to increase by 143-163 million in 2021. More than half of the newly poor in South Asia, mainly in India<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"15\" data-aria-level=\"1\"><span data-contrast=\"auto\">The problem with India is not its economic fundamentals, which are strong, but the fact that\u00a0<\/span><b><span data-contrast=\"auto\">poor management of its economy, and the pandemic <\/span><\/b><span data-contrast=\"auto\">means \u201cconfidence remains depressed, and balance sheets damaged. <\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<table style=\"width: 100%; border-collapse: collapse; background-color: #f7f2f2;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><span data-contrast=\"auto\"><strong>Read more<\/strong>:\u00a0<\/span> <span style=\"color: #0000ff;\"><strong><a style=\"font-family: var(--list--font-family); background-color: var(--global--color-background); font-size: var(--global--font-size-base); color: #0000ff;\" href=\"https:\/\/forumias.com\/blog\/united-nations-organisations-in-news-prelims-capsules-2021\/#World_BankGroup\" target=\"_blank\" rel=\"noopener\">World Bank<\/a><span style=\"font-family: var(--list--font-family); background-color: var(--global--color-background); font-size: var(--global--font-size-base);\" data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Source:\u00a0Livemint Syllabus: \u00a0Indian Economy and issues relating to planning, mobilization, of resources Synopsis: The World Bank releases a Global Economic Prospects (GEP) report twice a year. It is the most important source for evaluating the current and future outlook for emerging markets and developing economies (EMDEs). The recently released edition is significant because of the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/world-banks-global-economic-prospects-gep\/\">Continue reading <span class=\"screen-reader-text\">World Bank\u2019s Global Economic Prospects (GEP)<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164,1305,9],"tags":[8290,2188],"class_list":["post-115470","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","category-index-reports-bodies","category-public","tag-global-economic-prospects","tag-world-bank","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700418340},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/115470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=115470"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/115470\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=115470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=115470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=115470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}