The Chinese economy will grow this year by 7.2%, estimates the World Bank (WB) in its most recent quarterly forecast. In March, the World Bank estimate for China was 6.5%.
The change of forecast is a consequence of economic stimulation program of the Government in Beijing, of 585 billion dollars (418 billion U.S. dollars) grant [...]
The strong development in China will help lift the world economy from recession, said the president of the World Bank, Robert Zoellick, quoted by Mediafax.
“Evolution of the Chinese economy this year will surprise you. Growth is not just an element of stability, but a force that will bring the system of global recession, “said Zoellick [...]
Emerging countries will grow faster compared with those of developed nations after emerging from the world economic crisis, and banks that have operations in these markets will benefit from of a number of advantages, according to the head of a group that owns Renaissance Capital, the largest investment bank in Russia, writes The Guardian.
“If we [...]
The noted economist James Galbraith said that the European Union is hampered by an inability to manage the crisis that hit the states of Eastern Europe.
“Hungary had to accept a loan from the International Monetary Fund, while it should have been helped by Europe. It’s a big problem for the European institutions”, the analyst noted.
At [...]
The global economic crisis could lead to growth this year in the number of unemployed worldwide to a record of nearly 240 million people, equivalent to an unemployment rate of 7.4%, estimated the International Labor Office.
“The labor market has worsened from the beginning of crisis. Our current projections show that (the unemployed – number) will [...]
According to an analysis conducted by rating agency Standard & Poor’s, he public debt of the United Kingdom is approaching 100% of GDP. This situation might lead the agency to downgrade its investment rating of Great Britain. The loss of investment rating of “triple A”; would be a disaster for the Labor government led by [...]
The global economic recovery will be slow, increasing unemployment worldwide which raise the threat of social crisis and protectionism, said World Bank president, Robert Zoellick, in an interview for Spanish newspaper El Pais.
“What began as a major financial crisis and become a major economic crisis now turns into a crisis of unemployment, and if we [...]
The president of the Bulgarian Industrial Association (BIA), Bojidar Danev, said that Bulgaria will not manage to overcome the negative effects of global financial crisis until 2012, according to Sofia News Agency.
Danev added that national budget revenues are down and the system bank of the country has deteriorated. BIA President has said that falling liquidity [...]
The director of Budget Bureau from White House, Peter Orszag, said that U.S. economy is not in “free fall”, but not out of danger zone, Mediafax informs.
“Free fall of the economy seems to have stopped”, Orszag Peter said to CNN television. The U.S. economy, biggest of the world, went into recession at the end [...]
The economic crisis is requiring governments around the world to cut budgets. First affected by the social adjustment costs from Lithuania were mothers. In Estonia, the President wants to give an example and reduced his own salary. In Hungary, the victims of adjustment are primarily pensioners.
The cutting of social cost brought hundreds of mothers to [...]
The president of the European Central Bank (ECB), Jean-Claude Trichet, has estimated that the rest of 2009 will be “less difficult”; than the first quarter, from an economic point of view, and that boosting the economy will start during next year.
“The following quarters will be less difficult than the first, although, overall, this year will [...]
