Global growth rate cut by World Bank over Ukraine

The World Bank has curtailed the Global Growth Rate from the 3.2%  predicted in January to 2.8% over Ukraine crisis and reduced economic activity in the intervening period. It has reduced forecast for America to 2.1% from earlier 2.8% due to the difficult weather conditions in the beginning of the year. If the Ukraine crisis deepens any further, the developing economies will be hit further and there will be a downgrade of up to 1.4% in growth, said Andrew Burns, the report’s lead author.

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