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World Bank to release Global Economic Prospects 2010
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The World Bank is to release Global Economic Prospects 2010 in Beijing. The Bank put out the report in Washington DC last week.It says the global economy is expected to grow 2 point 7 percent this year. BizChina brings you an interview with Hans Timmer, Director of World Bank Development Prospects Group.
According to the World Bank, the global economy will turn to positive growth this year, and this rate will increase next year. The figure in developing countries will far exceed that of developed countries. It predicts GDP growth in China will hover at 9 percent for the coming two years, while the figure in the US will be around 2 and a half percent.
Hans Timmer, Director of World Bank Dev’t Prospects Group, said, "We predict....global GDP in 2010 will be 2.7%......"
Timmer says the World Bank has to closely watch the progress of developing countries. He says it's developing countries, rather than developed countries which have taken the lead in economic recovery.
Timmer also warn that the stimulus plan will be out of effect this year.
He suggests governments find new ways of maintaining economic growth this year.
The report also stresses that although the world economy has bottomed out, it is still fragile. If governments fail to take proper measures, it may fall into another round of recession.
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