The International Monetary Fund (IMF) will make a downward revision to the expectations 2009, where a 0.6% contraction is expected for the world's economy and 3.2% contraction for the Eurozone. These figures were advanced by Teresa Ter-Minassian, a special adviser to Dominique Strauss-Kahn, at the Portuguese Financial and Fiscal Law Institute, in Lisbon.
Ter-Minassian said that the new expectations point to a Eurozone contraction of 3.2% in 2009 and a stagnation (0.1%) in 2010, the most pessimistic expectations so far.
The World's economy will contract 0.6% this year and climb 2.3% in 2010.
For the US, the IMF expects a 2.6% contraction in 2009 and a small expansion (0.2%) in 2010. The IMF also expects the UK to contract 3.8% this year and 0.2% in 2010.
One of the most surprising IMF predictions is the downwards revision for the Japanese economy, as it is expecting a 5% contraction, double the predicted in January, for 2009, and a stagnation for 2010.