'Flat' growth for developing countries: World Bank | Bangkok Post: business

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'Flat' growth for developing countries

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WASHINGTON - The World Bank lowered its 2014 growth forecasts for the global economy Tuesday, but said advanced economies' rebound from a rough start would help offset stagnation in developing countries. 

Most of the pick-up in growth this year will come from high-income countries, particularly the United States and the 18-nation eurozone, the World Bank said in its twice-yearly Global Economic Prospects report.

But a rough start to the year -- bad weather in the US, financial market turmoil and the Ukraine crisis -- dragged down global growth for the year as a whole, the Bank said.

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