The world is forecasted to grow only 0.5 per cent in 2009 based on latest International Monetary Fund (IMF) report. (Source: AFP, 29 January 2009)
Economic growth numbers are measured through Gross Domestic Product (GDP). The world will see the slowest growth since the World War II with the advanced economies contracting by 2.0 per cent.
The forecasts of GDP growth are:
a) US -1.6%
b) Japan – 2.6%
c) Eurozone – 2.0%
d) Germany – 2.5%
e) Britain – 2.8%
f) China + 6.7%
g) India + 5.1%
The IMF forecasted a gradual economic recovery next year based on earnest actions taken by many nations to ease credit crunch and expand their economies through fiscal and monetary policies. Global growth was forecasted to be 3.0 percent.
Written on 1/29/2009 4:43 PM
Copyright © 2009, the author known as LKT in Singapore.
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