World Bank: Global economy stronger, but risks remain

The World Bank early Wednesday issued a positive outlook for the world economy, but warned that rising interest rates could endanger the expected growth, dpa reported.Growth is picking up in developing countries and high-income economies appear "to be finally turnng the corner," the World Bank said in its Global Economic Prospects report.The bank projected global growth in 2014 at 3.2 per cent, up from the2.4 per cent in 2013. Growth was expected to reach 3.4 per cent in2015 and 3.5 per cent in 2016."The performance of advanced economies is gaining momentum, and this should support stronger growth indeveloping countries in the months ahead," said World Bank Grouppresident Jim Young Kim.Gross domestic product (GDP) in the wealthier countries was expected to climb from an average of 1.3 per cent in 2013 to 2.4 per cent in