BUSINESS

Global Economy To Shrink In 2009: World Bank

04/21/2009 05:12 am ET | Updated May 25, 2011

The global economy is set to shrink by one to two percent this year, World Bank President Robert Zoellick said on Saturday, saying the depth of the slowdown was unprecedented since the 1930s Great Depression.

Speaking at a conference in Brussels, Zoellick referred to a an International Monetary Fund (IMF) forecast that the world economy would shrink by one percent this year.

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