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1.2 The global economy is slated to continue its performance achieved in 2005 and is estimated to row at 4.9 per cent in 2006. The inflationary pressures, manifested primarily due to the high oil prices, have not adversely affected the stability of the major world economies. According to the World Economic Report 2006, global growth has been largely fuelled by the benign financial market conditions and continued accommodative policies, and with the 'emerging economies' and 'developing countries' strengthening their growth momentum in the second half of 2005, world economy will continue to register healthy growth (Table 1.1). The Advanced Economies are projected to grow at 3.0 per cent in 2006 as against 2.7 per cent in 2005.
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