World Bank downgrades economic growth forecast

The World Bank points to several factors that could threaten an economic recovery and lowers its expectations for 2015 as well as 2016. The Russian economy is on the verge of a knockout.

Photo: Århus Havn

The World Bank has lowered its global GNP forecast for 2015. The bank sees significant risks to the recovery of the global economy, according to a new report that, among other things, estimates that Russia's economy is on the verge of a knockout following sanctions from western countries due to the crisis in Ukraine as well as the recent major slide in the oil price.

The World Bank's global GNP growth estimate now stands at 3 percent for this year, 0.4 percent less than the most recent forecast from June last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Further reading

Related articles

Latest news

See all jobs