Developing economies could see sharper recession in 2020: World Bank
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Senior World Bank officials on Friday warned that developing economies could see a deeper recession than currently expected if consumption and investment do not rebound quickly after coronavirus. They said the preliminary baseline scenario forecast a "grim" 2% drop in economic output in developing countries, the 1st contraction in these economies since 1960 and a sharp swing from average growth of 4.6% over the last 60 years.
