The big build-up by the country politicians across the globe, “that the recession is over and the recovery is on” has now been demolished by the statement given by world bank.
World Bank reports that the worst ever slump in economy is about to happen this year and to an extend in next year. This reports will surely bring the worst fear of every business person across the world to a great fear.
The world bank announces that the decrease in economy will fall to 3% this year, more that the 1.75% drop which it predicted last year.”Most developing country economies will contract this year and face increasingly bleak prospects,” World Bank president Robert Zoellick said.
This reports goes on to add that ,this year may be the first recession since the World War II.