World

The 20 Fastest-Growing Economies This Year

In this Sept. 22, 2014 photo provide by China's Xinhua News Agency,  Chinese President Xi Jinping, front right, meets with a delegation of Hong Kong's industrial and business circles headed by Tung Chee-hwa, left front, in Beijing, capital of China. (AP Photo/Xinhua, Rao Aimin)
In this Sept. 22, 2014 photo provide by China’s Xinhua News Agency, Chinese President Xi Jinping, front right, meets with a delegation of Hong Kong’s industrial and business circles headed by Tung Chee-hwa, left front, in Beijing, capital of China. (AP Photo/Xinhua, Rao Aimin)

 

(Bloomberg) – Emerging markets in Asia and Africa still reign supreme: They’re at the top of global growth projections over the next two years.

The world is expected to grow 3.2 percent in 2015 and 3.7 percent next year after expanding 3.3 percent in each of the past two years, according to a Bloomberg survey of economists. China, the Philippines, Kenya, India and Indonesia, which together make up about 16 percent of global gross domestic product, are all forecast to grow more than 5 percent in 2015.

By comparison, the U.S. and U.K., which combined account for about a quarter of global growth, are expected to grow 3.1 percent and 2.6 percent this year, respectively. The euro area probably will expand just 1.2 percent as European Central Bank President Mario Draghi deals with a fragile Greece and embarks on a bond-purchase program to stimulate the region’s growth.

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