Posted to the web 23 July 2008 Port Louis Soaring food prices and shortages mean that 77m people of Pakistan's 160m population are food insecure, a 28% increase over the past year, according to UN World Food Programme estimates. Global economic prospects The global economic outlook remains quite bleak. According to IMF projections, the world economy will continue to slow down in the second half of 2008. World GDP growth rate is expected to drop by 0.9 percentage points from 5 percent in 2007 to 4.1 percent in 2008. With business and consumer confidence falling, growth in advanced economies is projected to average 1.7 percent for 2008, down from 2.7 in the previous year. Business activities in emerging and developing countries are also losing steam. For instance, the expansion of China and India, the powerhouses of global...
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