World economy to demonstrate negative growth in 2009: experts
Azerbaijan, Baku, June 17 / Trend , A.Badalova/
Despite some signs of improvement, the world economy continues to show negative trends. The fact that it is too early to speak about a rapid and full restoration of the economic situation in the world is testified with forecasts of major international companies and organizations.
Thus, the World Bank has once again deteriorated prediction about the fall of the world economy in 2009. According to new projections, the world's GDP will decline by three percent this year. Earlier, the World Bank predicted a slowdown of the world economy by 1.75 percent. The World Bank expects recovery of the world economy in 2010.
According to the forecasts of oil-exporting countries, the global economic growth will decrease by 1.3 percent, which was 0.1 percent above the forecast made by OPEC earlier. The OPEC report says that the slight increase of the projections has been made due to growth in China and India. In 2009, GDP growth in China is projected to reach seven percent compared to 6.5 percent projected earlier. In India, GDP growth will be 5.7 percent this year.
OPEC forecasts that GDP in the countries of the Organization for Economic Cooperation and Development (OECD) will decrease by 3.8 percent, in the Eurozone - by 4.2 percent in 2009. The highest decline is projected to occur in Japan - by 6.4 percent. Growth of the U.S. economy will down by 2.8 percent this year.
Under the OECD estimates, in the first quarter of 2009, GDP of this organization will fall by 2.1 percent, which is the strongest in the fall since 1960. GDP in the U.S. dropped by 1.6 percent, Japan - 3.8 percent and in the Eurozone - on 2.5 percent in this period.
Analysts of the U.S. Morgan Stanley bank believe that although the world economy shows positive trends, the downward trend will continue, with the exception of countries such as India and China, where there is growth. The bank forecasts that GDP growth in India will be 5.3 percent in 2009, 6.4 percent- in 2010.
Analysts of the Centre for Economics and Business Research (CEBR) forecast that the world GDP will fall by 1.4 percent in 2009.
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