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World Bank issues pessimistic forecast

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World Bank issues pessimistic forecast

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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.