Some countries bounced back relatively quickly after the global financial crisis, but others aren't doing so hot.
"Worryingly, the stalled recovery in some high-income economies and even some middle-income countries may be a symptom of deeper structural malaise," Kaushik Basu, the World Bank's chief economist and senior vice president, wrote. "What is critical is for nations to use this window to usher in fiscal and structural reforms, which can boost long-run growth and inclusive development."
We compiled a list of 10 countries with the slowest projected annual growth rate, or CAGR, from 2014 through 2017 based on the forecasts from the World Bank's Global Economic Prospects.
10. Yemen
2015 GDP: -2.80%
2016 GDP: +2.80%
2017 GDP: +3.40%
2014-17 GDP CAGR: +0.90%
Economy: Yemen's energy-dependent economy was burned by 2014's oil crash, and the country is in the middle of a civil war.
"Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, severe food scarcity, and a high population growth rate," according to the CIA Factbook.
Source: World Bank, CIA World Factbook
9. Croatia
2015 GDP: +0.50%
2016 GDP: +1.20%
2017 GDP: +1.50%
2014-17 GDP CAGR: +0.70%
Economy: Croatia is one of the better off former Yugoslav republics, but its economy never fully recovered after 2008. GDP slipped by an estimated 0.4% in 2014, and the country is plagued by "stubbornly high" unemployment rate, uneven regional development, and continued reduced foreign investment.
Source: World Bank, CIA World Factbook
8. Brazil
2015 GDP: -1.30%
2016 GDP: +1.10%
2017 GDP: +2.00%
2014-17 GDP CAGR: +0.47%
Economy: Brazil's government attempted to pump up economic growth through targeted tax cuts for industry and incentives to fire up household consumption over the past few years. But the country's fiscal and current account balances have disintegrated. On top of that, the 2014 World Cup was a huge strain on the economy.
Source: World Bank, CIA World Factbook
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