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Poland is the only member of the European Union to have avoided recession, meaning that in 2009 Poland created the most GDP growth in the EU. As of December 2009 the Polish economy had not entered recession nor contracted, while its International Monetary Fund (IMF) 2010 GDP growth forecast of 1.9 per cent is expected to be upgraded.
On 26 November 2008, the European Commission proposed a European stimulus plan (also referred to as the European Economic Recovery Plan) amounting to 200 billion euros to cope with Great Recession in Europe and the 2007–2008 financial crisis. It aimed at limiting the effects of the Great Recession through national economic policies, with ...
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the 1929 Wall Street crash that began the Great Depression. Causes of the crisis included predatory lending in the form of subprime mortgages to low-income homebuyers and a resulting housing bubble, excessive risk-taking ...
Citigroup estimates due to the number of exports from China to America a one percent drop in US economic growth would lead to a 1.3 percent drop in China's growth rate. There were several large Monday declines in stock markets worldwide during 2008, including one in January, one in August, one in September, and another in early October.
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map). [2][3] At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the ...
During the third quarter of 2008 the national GDP contracted for the first time in 15 years, and, in February 2009, Spain (and other European economies) officially entered recession. [8] The economy contracted 3.7% in 2009 and again in 2010 by 0.1%. It grew by 0.7% in 2011. [9] By the 1st quarter of 2012, Spain was officially in recession once ...
A recession is a period of two quarters of negative GDP growth. The countries listed are those that officially announced that they were in recession. It is worth noting that some developed countries such as South Korea and Australia did not enter recession (indeed Australia contracted for the last quarter of 2008 only to grow 1% for the first half of 2009).
Beginning in 2008, many nations of the world enacted fiscal stimulus plans in response to the Great Recession. These nations used different combinations of government spending and tax cuts to boost their sagging economies. Most of these plans were based on the Keynesian theory that deficit spending by governments can replace some of the demand ...