The World Bank forecasts 3.2 percent growth of global economy in 2014, five years after the global financial crisis.

According to WB assessment, in 2013 the GDP is projected to grow from 2.4 percent in 2013 to 3.2 percent this year.

“Growth prospects for 2014 are, however, sensitive to the tapering of monetary stimulus in the United States, which began earlier this month, and to the structural shifts taking place in China’s economy,” the report reads.

The overall outlook for Europe and Central Asia is positive, with expected modest recovery into 2014–16. However, outlook remains divergent across countries as they face different mix of external developments, domestic policies, and structural challenges.

For example, a sharper-than-expected slowdown in Russia would weaken the growth outlook for many Commonwealth of Independent States, especially those that are heavily dependent on Russia for import demand, remittance flows, and foreign investment (e.g., Armenia, the Kyrgyz Republic, Moldova, Tajikistan, and Uzbekistan).