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World Bank issues pessimistic forecast


World Bank issues pessimistic forecast


The World Bank is warning that prospects for the global economy remain “unusually uncertain” despite recent signs of improvement in some regions.

The US-based lender said the world economy is likely to contract this year by 2.9 percent. Back in March it predicted a slowdown of 1.7 percent. For the euro zone, the World Bank sees a 4.5 percent fall in growth.

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