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Recession threatens developed economies
07.09.2011 09:02 "Agro Perspectiva" (Kyiv) —
Developed economies are facing a threat of falling into recession while economic growth in developing countries is stronger, according to the UN Development and Trade Agency (UNCTAD).
In its Trade and Development Report 2011, UNCTAD says after a rapid recovery from the 2008 financial crisis, the growth of the world economy is slowing down from 4 per cent in 2010 to around 3 per cent in 2011.
UNCTAD economist Alfredo Calcagno admits in 2010 there was general recovery in developed and developing countries alike.
«But in 2011 we are seeing that growth is stronger in developing economies which have recovered their pre-crisis growth strength and are expanding at above 6 per cent this year, while in developed economies the growth is losing strength. They are actually with a threat of falling again into recession,» says Calcagno.
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