Global economic prospects for 2006

Global Economic Prospects 2006 discusses the world's global economic outlook. See the summary table and powerpoint presentation. Key projections include:

World GDP is estimated to have increased by 3.2 percent in 2005, down from 3.8 in 2004. Growth is projected to be stable in 2006, before strengthening somewhat in 2007… Growth in developing economies is projected to slow modestly from an estimated 5.9 percent this year to 5.5 percent by 2007.

A focus of the report is that migration and remittances can deliver important welfare gains and reduce poverty. The report shows that official global remittances have increased two-fold in the last five years and now more than double international aid flows. (And these numbers don't include the vibrant informal channels.)

For more see the press release, e-book, or listen to audio interviews with the authors. Also in: عربي, Español, Français or 中文.

Update 1: More coverage via the Financial Times, The Times of London, Reuters, and the NewEconomist.

Update 2: Also of interest: money transfers in Kenya, Maimbo & Ratha on remittances and poverty, or an op-ed by World Bank chief economist Francois Bourguignon.