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World Bank cuts 2016 global growth forecast to 2.4 percent

World Bank cuts 2016 global growth forecast to 2.4 percent

Jun 08, 2016, at 03:27 pm

Washington, June 8 (IBNS):The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows.