Low oil prices will continue in 2015 - World Bank

Almaty. January 8. Silkroadnews - Low oil prices will continue in 2015, according to a report by the World Bank (WB) "Global Economic Prospects".
"Soft oil prices are expected to continue in 2015, and it will be accompanied by significant changes in the real income of oil-importing countries and exporting countries", - stated in the document WB.
In addition, for many oil-importing countries lower prices promote growth and reduce of inflation, external and fiscal pressure.
"Nevertheless, weak oil prices pose significant challenges for major oil-exporting countries, which will adversely affect the weakening growth prospects and fiscal and external positions. If the decline in oil prices persist, they can also undermine investment in new research and development ", - emphasized in the study.
According to Director of Development Prospects Group WB Ayhan Kose, for policymakers in developing oil-importing countries fall in oil prices open a window of opportunity for fiscal policy and structural reforms, and social programs.
"In the oil-exporting countries a sharp decline in oil prices is a reminder of the considerable vulnerability of highly concentrated economic activity and is the need to intensify efforts to diversify in the medium and long term", - he said.