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World Bank foresees global economic slowdown in 2008

de Radu Big
Miercuri, 9 ianuarie 2008, 13:41 English | Top News

The global economy growth rate is expected to decrease to 3.3%, the World Bank estimates. The institution draws the attention towards the fact that the lack of financial stability may cause a recession in the US economy, NewsIn informs.

The study published by WB on Wednesday includes estimate figures lower than the ones in October 2007, which predicted a 4.8% growth of the global domestic product in 2008.

WB considers that the global growth was 3.6% in 2007, a figure that will be reached again in 2009, due to the dynamics of emerging economies, compensating the weaknesses of developed countries.

The global economy risks at the moment are the depreciation of US currency, the possibility of seeing a recession in the US and the growing volatility on financial markets. Turbulences on the international credits market are expected to last all through 2008. 

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