Estimates by the IMF show that world growth has averaged 4,2 per cent since 2000, as compared to 3,2 per cent for the preceding decade. Current projections indicate that the economic expansion is likely to continue with growth rates being very close to 5 per cent in 2006 and 2007.
In fact, the global expansion since the turn of the 21st century ranks amongst the highest since the early 1970s. While the global expansion has in general been broad based, the improved growth performance of developing and emerging economies relative to those of developed economies has been most noteworthy.