- VIVAnews/Tri Saputro
VIVAnews - The World Bank figures the global Gross Domestic Product (GDP) will slow down by 3.3 percent this year compared to last year's 3.9 percent.
Director of the World Bank's Development Prospects Group, Hans Timmer, said more than half of global growth is recorded by developing countries.
The said countries are expected to grow by seven percent last year. "[The next growth] will be six percent in 2011 and 6.2 percent in 2012," said Hans in a video conference today, Jan 13.
Hans said the economic growth of developing countries has exceeded the high-income nations which was estimated to rise by 2.8 percent in 2010.
The international equity and bonds to developing countries sharply doubled in 2010 by 42 percent and 30 percent respectively.
"The increase in international equity strengthen recovery in most developing countries. However, enormous equity is risky and threatening if a currency has sudden appreciation and asset bubble takes place," said Hans.
Hans warns about future food crisis, which is likely to continue until 2011. The crisis mirrors the situation in 2008. Yet, the current food stock is better.
The World Bank predicts the climb in food prices by two digits within the last two months has put more pressure over low-income families.
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Translated by: Bonardo Maulana W
Pilpres Berakhir, Cak Imin Sebut Timnas Amin Akan Dibubarkan Besok Pagi di Rumah Anies
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