World Bank sees oil price affecting growth

High oil prices threaten to slow the world economic growth rate by up to 0.2 percent, World Bank chief economist Francois Bourguignon has said.

"If the price remains between $40 and $50 (per barrel) for a year we know that world growth will go down by 0.1 percent or 0.2 percent," he told Reuters on the sidelines of a conference on public spending. "If the price goes up again it will be more serious."

The global economy is expected to expand by more than 4.6 percent this year, according to the