World Economic Outlook has grown dimmer in recent months. The financial crisis has undermined the functioning of global markets and caused a significant tightening of credit conditions for consumers and businesses. According to Stefan Marion, chief economist and strategist, “Even if some surprises and was forced sale of assets leave in the coming months, which is probably that we do not expect the world economy to expand by more than 1.6% in 2009.” If that happens, according to the International Monetary Fund, global economic growth of less than 3% means a recession.
