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Global Economy to Grow

The global economy is set to grow by almost four percent this year in purchasing power parity terms adding an extra USD5 trillion to global output at current values, according to new projections in PwC’s Global Economy Watch.

The main engines of the global economy, the US, emerging Asia and the Eurozone, are expected to contribute almost 70 percent of economic growth this year compared to their post-2000 average of around 60 percent.

Growth in the Eurozone is predicted to be above two percent this year, as PwC expects the peripheral economies to outpace the core for the fifth consecutive year. The Netherlands is expected to lead the way with economic growth at around 2.5 percent, while the UK growth is predicted to be 1.4 percent this year.