Developing countries stare at weak growth, says report

Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 per cent pace, from 2.4 per cent growth recorded in 2015.

The World Bank 2016 Global Economic Prospects report, however, acknowledges that advanced economies would gain speed despite weakness in most major emerging markets, which remains a concern for achieving the goals of poverty reduction and shared prosperity. These countries, it reckons, have been powerful contributors to global growth for the past decade.