Standard Chartered puts Egypt among the world's seven largest economies in 2030

LONDON (Reuters) - Britain's Standard Chartered Bank is expected to replace Egypt with the world's seven largest economies by 2030, according to long-term projections by the bank, predicting that seven emerging markets will now be among the top 10 economies in the world in 2030

The forecast forecasts that China will become the world's largest economy by 2020, with the support of purchasing power parity (PPP) and gross domestic product (GDP), the bank's economists said in a research note released Tuesday by Bloomberg. , That the Indian economy outperforms the US economy in the same period of time, and that Indonesia join the world's top five economies.

"Our long-term growth prospects are supported by one key principle: that countries' share of global gross domestic product must converge with their proportion of the world's population"He said.

The forecast predicts that growth in India will accelerate to 7.8 percent by 2020, while in China it will drop to 5 percent by 2030, and Asia's share of world GDP will reach 35 percent in 2030, That rose last year from 28% to 20% in 2010.