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WORLD BANK WARNS OF POSSIBLE WORSE RECESSION

JAN 18/12 THE World Bank has slashed growth forecasts, warning that the global economy could be thrown into a worse recession than it faced during the global financial crisis.  “While contained for the moment, the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains,'' it said. “The world could be thrown into a recession as large or even larger than that of 2008-09.''

Australia's Acting Treasurer Bill Shorten said that the outlook for 2012 appeared even more challenging than 2011. “There's no doubt we've got a tough year ahead of us. There are huge challenges in the global economy and these will inevitably impact on our economy and our budget,'' Mr Shorten said.   For full story >

http://www.theaustralian.com.au/business/economics/world-bank-lowers-global-growth-outlook/story-e6frg926-1226247311109

 

   

 

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