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Subject World Bank slashes global GDP forecasts, outlook grim
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Original Message BEIJING - The World Bank yesterday warned of a possible slump in global economic growth and urged developing countries to prepare for shocks that could be more severe than the 2008 crisis.

It predicted world economic growth of 2.5 per cent this year and 3.1 per cent next year, well below the 3.6-per-cent growth for each year projected in June.

The bank also cut its growth forecast for developing countries this year to 5.4 per cent from 6.2 per cent and for developed countries to 1.4 per cent from 2.7 per cent.

For the 17 countries that use the euro currency, it forecast a contraction, cutting their growth outlook to -0.3 per cent from 1.8 per cent.


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