The world economy is projected to strengthen this year, with growth picking up in developing countries while high-income economies appear to finally be turning the corner five years after the global financial crisis, according to the World Bank’s newly-released Global Economic Prospects(GEP) report. Global GDP is projected to increase from 2.4 percent in 2013 to 3.2 percent this year. Growth in developing countries will expand from 4.8 percent in 2013 to a slower than previously expected 5.3 percent this year.
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