Bulgaria is among the countries expected to achieve an economic growth by 2050, HSBC has predicted in a study entitled „The World in 2050: From the Top 30 to the Top 100″.
In the report predicting the rise and fall of the world’s economies in the next 40 years, Bulgaria is among the 43 countries included in the „Growth“ category, together with 11 Latin American countries, Turkey, Romania, Iraq, Russia, Saudi Arabia and Libya, among others.
The study also identified 26 „Fast-growth“ economies, headed by the Philippines which is expected to leapfrog 27 places to become the world’s 16th largest economy. Egypt, Peru and Ukraine are also expected to stand out.
The Top 20 largest economies by 2050 will be China, the United States, India, Japan, Germany, United Kingdom, Brazil, Mexico, France, Canada, Italy, Turkey, South Korea, Spain, Russia, Philippines, Indonesia, Australia, Argentina and Egypt.
The big loser in the next 40 years will be advanced economies in Europe, HSBC predicts, with many of them placed in the „Stable“ group.
Sweden, Belgium, Austria, Norway and Denmark will drop out of our Top 30 altogether, according to the report.
The study has explained that demographics are to play a crucial role, helping parts of Africa finally emerge from economic obscurity.