Coface expects larger downturn than expected

Coface expects the global economic downturn, a total of 6.6 percentage points for the period between 2007 and 2009, which is a larger downturn than formerly expected.

According to the calculations of the company, 2.5 percent downturn is expected in 2009. The advanced industrialized countries will suffer a 3.9 percent decline, while emerging countries will record a 0.7 percent growth.
Growth is expected to start in 2010, with an annual rate of 1.7 percent. The advanced industrialized countries are expected to reach a 0.5 percent growth, developing countries, are expected to reach a 4.1 percent growth in 2010.
In Hungary 6.7 percent increase in the GDP is expected this year – reports Világgazdaság Online.