World Bank: low oil prices will help the global economy

World Bank: low oil prices will help the global economy

Vice-President of the World Bank's East Asia and the Pacific section, Axel van Trotsenburg, said that the current decline in oil prices is on the whole an advantage for the global economy. 

 

"The world mainly consists of oil-importing countries. Thinking in terms of the global economy, the reduction in prices will have a beneficial effect on it," he stressed. 

 

According to the vice-president of the World Bank, for oil-importing countries, including Japan, low oil prices are a plus for the economy, because they lead to a reduction in foreign trade deficit, and the released funds will be spent on infrastructure projects and more active solutions to social problems". 

 

"If the current situation continues, the reduction in the price of oil will also affect the prices for natural gas and coal," he concluded.

 

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