Tag Archives: World Bank

India is set to remain the world's fastest-growing major economy, with a projected steady growth rate of 6.7% over the next three years, according to the World Bank's latest Global Economic Prospects report released on Tuesday.

The World Bank has lowered growth forecasts for East Asia's developing economies, primarily due to a slowdown in China. This adjustment is expected to result in one of the region's slowest growth rates in five decades, attributed to various factors including tumbling retail sales, stagnant house prices, increased household debt, and trade tensions.