November 19, 2009 7:53 PM

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OECD growth & recovery has doubled in 30 countries

The Organisation for Economic Co-operation and Development (OECD) says growth and recovery are expected in 2010 in just about all world regions. For its 30 member countries, rich nations including the US and UK, OECD has more than doubled its growth forecast to 1.9 per cent for next year, from 0.7 per cent.But the OECD warns developed nations not to expect a smooth ride and said growth would be modest for some time. Acording to the OECD's economic outlook the main danger for rich countries is unemployment. A very different economic outlook is forecast for key emerging nations.China can expect to grow by 10 per cent, India by more than 7 per cent. The other two stand-out nations are Brazil and Russia. The OECD expects Brazil's economy to rebound and expand by almost 5 per cent after stagnating this year. Russia is also predicted to see that kind of economic improvement next year.

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