Wednesday, January 28, 2009
World economic growth is set to fall to just 0.5% this year, its lowest rate since World War II, warns the International Monetary Fund (IMF).
In October, the IMF had predicted world output would increase by 2.2% in 2009.
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It now projects the UK, which recently entered recession, will see its economy shrink by 2.8% next year, the worst contraction among advanced nations.
The IMF says financial markets remain under stress and the global economy has taken a “sharp turn for the worse”.
This article was posted: Wednesday, January 28, 2009 at 11:22 am