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World Bank President says double-dip recession unlikely

World Bank President says double-dip recession unlikely

06 September 2011 12:52 (UTC +04:00)

Baku - APA-Economics. The global economy is unlikely to fall back into recession but there are risks, World Bank President Robert Zoellick said on Tuesday.
"I don’t believe that the United States or the world will go into a double-dip but there are high degrees of uncertainty," Zoellick told reporters in Singapore.
The United States is more likely to go through a period of slow growth with ongoing high unemployment, he added.
His comments come after Singapore Finance Minister Tharman Shanmugaratnam, who also chairs a key International Monetary Fund committee, said the world is "more likely than not" to see a recession as growth in both the United States and Europe have fallen to "stall" speed.
On Europe, the World Bank president said Europe Union had to consider working closer in the area of fiscal policy to address the problems facing its members.

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