“The heightened level of policy uncertainty, especially regarding trade, has been exacerbated by recent political developments – most notably in the United States and the United Kingdom”, says the World Bank in its Global Economic Prospects report. The bank also predicts that economic growth will get stronger, moving from 2.3% this year to 2.7% next year. A modest rise of 0.4%. According to the bank, this growth will come from emerging markets and developing economies. The bank describes current growth as ‘anaemic’. Increasing growth Rising interest rates in the US has meant that borrowing is more expensive and harder to organise, but despite this the bank expects growth to increase in these countries because increasing prices for oil and metals and other commodities will compensate for difficult financing conditions. The forecast is less positive for developed economies with weak growth of around 1.8% forecast. Brexit and uncertainty over Donald Trump’s policies are mentioned as reasons for this expected weak growth, however the bank also sees potential for stronger US growth if Mr Trump can stimulate growth through lower taxes and infrastructure development.
What change is expected in growth? Why? Do you agree with the predictions? What do you expect in your economy?
Prepositions: from / to / of How are these used in the text? Use these prepositions to describe changes in your sales figures / business performance indicators over the last three years?
Find the words below in the text, what do you think they mean?
exacerbated – increased / made worse to predict – to say what will happen in the future modest – small anaemic – not strong (metaphor) borrowing – credit commodities – products / raw materials forecast – saying what will happen to compensate – to change the effect of something to stimulate – to make something happen