World economy to negative 2.9% this year

Xinhua Seoul June 22, the World Bank of 22nd in Seoul published in the "Global Development Finance 2009" reported that, affected by the international financial crisis, this year the global economy will negative growth of 2.9%. The growth rate for developing economies this year is only 1.2% per cent, well below last year's 5.9% and 8.1% in 2007, the report said.　　The report predicts that if China and India are not included, the economy of developing economies will fall by 1.6% this year, and unemployment and poverty will increase further. The report said that the world economy will gradually recover next year, the 2010 world economy will rebound 2%, 2011 will grow by 3.2%. Among them, developing economies rebounded faster, with growth of 4.4% per cent in 2010 and 2011 to 5.7%.　　The report also said that, given the current downturn in the world economy, there was a need for stricter and more effective regulation of the financial system. The World Bank has reported a 1.7% decline this year as the world economy has fallen for the first time since Second World War, according to a report published on March 31.